Rates remain historically low — but increases are on the horizon.
The golden era ofmay be drawing to a close, according to experts. Over the past two years or so, a handful of factors — including surging home values, COVID-19 migration and low interest rates — combined to create a nearly ideal environment for homeowners looking to refinance, as mortgage rates dipped below 2% for the first time ever.
Though rates have rebounded slightly since then, they remain remarkably, historically low. But that may soon change, according to a chorus of economists, real estate experts and mortgage sellers. “If you’re thinking about refinancing, do it now,” said Kimber White said, past media president of the National Association of Mortgage Brokers.