• jimshorkey

Mortgage Rates Continue To Decline: May 13, 2021

Since the most recent peak in April, mortgage rates have declined nearly a quarter of a percent and have remained under 3% for the past month. Low rates offer homeowners an opportunity to lower their monthly payment by refinancing and the most recent research shows that many borrowers who could benefit from refinancing still are not pursuing the option. Additionally, the low mortgage rate environment has been a boon to the housing market but many may not last long as consumer inflation has accelerated at its fastest pace in more than twelve years and may lead to higher mortgage rates in the summer.