During the holiday season refinance applications DID NOT slow down. Due in part to the uncertainty of additional government pandemic related stimulus, treasury rates have remained relatively low this week. These continually record low rates have fueled a substantially stronger demand for refinances (up 105%) in comparison to the demand to refinance last year.
But why you ask? Because applications for refinancing are most sensitive to these rate fluctuations. Buyers love the opportunity to decrease the amount of interest they are paying on their loan.
If you’re considering refinancing, even if you refinanced last year, you shouldn’t wait! These low rates could result in substantial savings on your monthly payments!
If you have any questions, give America’s Moneyline a call today! We would be more than happy to walk you through the next steps that may be more appropriate for you.