30-year mortgages have fallen from nearly 4.5 percent to 3.6 percent. The slide has prompted another round of the perennial question: is it time to refinance?
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Last week, the Federal Reserve decided not to raise interest rates. The more dovish Fed outlook pushed down interest rates, which led mortgage rates to 14-month lows. The current 30-year fixed rate loan stands at just under 4.3 percent, just in time for the spring home buying season.
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After stock markets powered forward (NASDAQ and Russell 2000 hit new all-time highs) and contentious trade talk continued, this week, the focus turns to the Federal Reserve. For the second time this year, policy makers are expected to raise short-term interest rates by a quarter of a percent to a new range of 1.75 to 2 percent. If so, it would be the sixth quarter-point bump since the current rate tightening cycle started in December 2015.
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