Rates ended today up slightly from Friday’s all-time lows. I’m now making daily comments on MortgageNewsDaily’s market recaps, with the goal of giving the consumer-friendly bottom line. Here’s what I said today and below that is the full post by my friend Matt Graham:
Consumers with strong stomachs can hold the line on waiting to refinance as we move into another summer that will be dominated by Eurozone debt contagion that’ll keep our U.S. rates low. But they’d also be well served to capture all time record lows now. The decision to discuss with your lender is whether to buy your rate even lower now, or do a low- or no-cost refi now which will enable you to cost-effectively refi again if rates drop near-term.