4.5% Mortgage Rates – Time to Refinance Home Mortgage?
With the US Treasury Department considering 4.5% mortgage rates, is now the time to refinance your home mortgage?
4.5% mortgage rates represents a huge cut in home mortgage rates. That is about 1% lower than the current mortgage rates. This might give us some opportunities to save money by refinancing our home mortgages.
Despite this news about lowering mortgage rates, I am not sure that the Federal government will actually be able to lower them. If you would like to read how the Federal government affects mortgage rates, SmartHippo.com has a great article describing the process.
If the 4.5% mortgage rates do happen, now might be a great time to refinance. We will have to wait and see if the US Treasury Department can actually get the rates down to 4.5%
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