Unless you’re a serial refinancer — someone who refinances whenever rates drop 1/4 to 1/2 percent — you may not be aware of the mounds of documentation required to refinance a home. Get ready for a tedious process.

It may be worth the hassle if you can get a 30-year fixed-rate mortgage with an interest rate of less than 4 percent. During the week ending Nov. 21, rates on 30-year fixed-rate conforming mortgages fell to 3.31 percent — a low in Freddie Mac records dating to 1971.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top