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By Cynthia Rignanese
Contributing Writer 

Why Now Is A Great Time To Refinance Your Lake Wales Home

 

Last updated 4/8/2021 at 1:12pm

moving.com

Can you imagine paying over 18% in interest on your home loan? It is true! If you financed a house in 1981, that would be the going rate. That rate seems outrageous today, as a 15-year mortgage is 2.7% APR and 30-year is at 3.4% APR.

Is now a good time for you to refinance, due to these low rates?

The answer is YES for multiple reasons. There are historical reasons, Florida-real-estate specific reasons and math to back up the decision!

Let's start by looking at a brief history of interest rates. In 1971, the year when Freddie Mac started surveying lenders, 30-year mortgages ranged from 7.29...



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Reader Comments(1)

VDeedrick writes:

VERY well researched and written, as always. As a recently retired Realtor, I can vouch for your skills, experience, and knowledge in all aspects of Real Estate.

 
 
 

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