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Homeowners overlook near-record mortgage rates, looming fee | MoneyWise
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Homeowners overlook near-record mortgage rates, looming fee | MoneyWise

Refinancing application for mortgages is down despite the attractive low-interest rates. Homeowners who have a credit score of 720 or better may gain big savings from refinancing. You may be missing out on opportunities to cut your monthly mortgage payments by almost $290 a month on average. It should be noted that a new refinance fee would take effect its return shortly and MBA warned it would cost the average borrower more since lenders would hike their rates to start offsetting the fee.

Source: https://apple.news/AVhEBPHW9SySPMHvKzB_FLg

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