Can any homeowners benefit from refinancing right now?
And some homeowners arerefinancing for other reasons, like to change their loan term or cash out home equity.
An increase in refinancing isn’t necessarily good news for the housing market.
That could just exacerbate the limited supply of exciting homes for sale.
That said, there could be benefits in the long term.
Read more:Cheaper Mortgages Are Coming, but How Soon After Fed Rate Cut?
Will there be another refinancing boom?
In a word: No.
At least not like before.
Consider whether refinancing works for your budget and specific living situation.
If you’re going to move soon, for example, it’s probably not worth it.
Think long term and ensure the rates are low enough to make a real difference for you.
