In a recent analysis by industry expert Spike, homeowners with mortgage rates exceeding 7% are feeling financial strain and are particularly vulnerable to even slight shifts in interest rates amidst the current economic conditions. This finding underscores the importance of closely monitoring interest rate movements for homeowners with higher mortgage rates to ensure financial stability and explore potential refinancing opportunities.
Key points from Spike’s analysis include:
– Homeowners with rates above 7% are experiencing financial pressure
– Even small interest rate changes can have a significant impact on their mortgage payments
– Monitoring interest rate movements is crucial for this group to stay informed and potentially save on refinancing costs.
You can read this full article at: https://www.housingwire.com/articles/rate-and-term-refi-locks-jump-25-6-in-may-optimal-blue/(subscription required)
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