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How can homeowners know if this is a good time to refinance?

Posted on Sep 22, 2011 by in Active Rain | 0 comments

  How can homeowners know if this is a good time to refinance? I have been asked this question so many times in the past few months.  My answer remains the same.

  Home owners need to look at the facts. Interest Rates are at a 50 year all time low. The Fed has been artificially keeping rates low to entice and invigorate the Real Estate Buying process. This will not be here forever; hence it is a good time to refinance. The only ones who should not refinance are home owners who are considering selling in the near term. The home owners should also check see what the closing costs will add to the total costs and factor that in as well before refinancing.

Given how the stock market is declining and there is all the uncertainty about the economy this is an ideal time to lock in those low rates for a fixed term. What is your expectation? Do you think interest rates will rise?

expectation of intrest rates

How would you have answered this question?

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