One of the bright spots of the pandemic and ensuing financial pain for homeowners is that they’ve been able to refinance their mortgages at record-low rates—and save quite a bit of cash. That’s about to change. Fannie Mae and Freddie Mac will be charging lenders a new fee on refinances that is likely be passed […]
The Top 10 Cities For A Cash Out Refinance
When professional cyclist Phil Gaimon saw that interest rates had dropped in early March, he decided to call his mortgage broker, pronto. By March 28, Gaimon, 34, had locked in a rate of 3.375% for the two-bedroom, two-bathroom townhouse he purchased in the Los Angeles neighborhood of Toluca Lake in 2014—nearly a whole point less than his […]
Is It Time to Refinance Your Mortgage?
Worries about coronavirus have battered stocks and sent investors fleeing to the safety of U.S. government debt. On Friday, the yield on the 10-year Treasury note fell below 0.7% for the first time. Earlier this week, the Federal Reserve cut its benchmark rate to a range between 1% and 1.25%. Mortgage rates are expected to fall along with those yields. The 30-year […]