Interest rate hikes are paused, at least temporarily. Here's what homebuyers should consider in the interim.
or by rolling it into your overall mortgage loan). That fee then secures you a lower rate on your mortgage . Just make sure to stay in your home long enough to recuperate the mortgage points cost, otherwise it may not be worth it for you. And be sure to weigh the costs of a potential refinance in the near-term, especially if you think a refinance rate in 2024 or 2025 will be lower than what you can get with mortgage points now.isn't for everyone.
If that happens in the future, however, you could potentially refinance to a fixed, lower rate. Do your research and speak to your lender to learn more. It could be a good alternative, especially while mortgage rates remain steady now.With interest rate hikes temporarily paused borrowers can take stock of their financial situation. And, maybe, take action, too. For homebuyers the pause could be a good motivator to lock in a rate now before they go higher toward the end of the year.
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