In December, mortgage refinancing rose 14%, a 10% increase from last year. This bump in refinancing is likely due to the dip in interest rates (from 7% to the high of 8%) in August. With interest rates stabilizing, real estate experts predict that it could be an excellent time to refinance and avoid higher interest rates later, as long as the rates continue to stay steady. Talk to your PRMI advisor if you want to refinance now.
