Mortgage rates were projected to rise in 2019, but they continue to defy all of the projections put forward by industry experts at the end of last year. In fact, as of this writing, rates are at their lowest levels in a long time. Thirty-year fixed rate loans are currently running around 3.75%, and 15-year fixed rate loans are trending around 3.25%.
This chart from Freddie Mac shows how mortgage rates have fluctuated over the last year. As the graph shows, rates have improved by more than a full percentage point since last November.
How do lower mortgage rates impact you?
For starters, if you've purchased a home or condo in the last couple of years, now is a good time to check with your lender and see if it makes sense to refinance. Ask…