Mortgage Rates Fall for Second Consecutive Week, Leading to Potential Refinancing Benefits
Wednesday, 15 May 2024, 11:00
Latest Mortgage Trends:
The Mortgage Bankers Association recently released data indicating a 0.5% rise in mortgage applications.
Rate Update:
The average rate for a 30-year mortgage stands at 7.08%.
Refinancing Outlook:
- Opportunity: The consecutive drop in mortgage rates presents a favorable climate for refinancing.
- Strategy: Homeowners can benefit from exploring potential savings through refinancing options.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.