Insights

How to Read Mortgage Rate Trends: What Homeowners Need to Know Mortgage rate trends are the directional movement of average mortgage rates over time, driven by four primary forces: the bond market, Federal Reserve policy, inflation, and broader economic conditions. A single rate figure tells you almost nothing on its own. The trend — where…

Is now a good time to refinance? It depends less on today’s mortgage rate than on three factors specific to your loan: how much your current rate exceeds today’s market, when you’ll break even on closing costs, and how long you plan to stay in the home. This analysis covers where mortgage rates stand right…

Is refinancing worth it if you’re moving in 2 years? In almost every case, no. Closing costs typically run 2% to 5% of the loan amount, and recovering those costs through monthly savings usually takes 24 to 36 months. If you’ll sell before reaching your break-even point, refinancing loses you money — regardless of how…

When should I refinance my mortgage? The answer depends on three conditions: the gap between your current rate and today’s market rate is at least 0.75 to 1 percentage point, your break-even point on closing costs is shorter than how long you plan to stay in the home, and your credit profile is strong enough…