Barrymore says refinance now:
“We all stand to benefit by simplifying refinancing | The White ...”
http://www.whitehouse.gov › Issues
but as usual, no one’s biting.
With GDP Growth (cough, cough) at MINUS .08%, rising Interest Rates put us into a Depression faster than you can say “The Butcher of Benghazi”.
Housing, the home of inflation. Meanwhile we are aborting the homebuyers of the of the future every single day. But that’s just a social issue.
The housing market is still relatively dead.
What is this mortgage of which you speak?
Nearly half of all home sales are all-cash deals
Mortgage rates remain extremely low by historical standards, but qualifying for them has become tougher, and mortgage appraisals are shockingly low. So, yes, you should buy now -- or refinance -- if you can qualify; if you can accept the fact that your lender 's opinion as to the value of your house is considerably lower than yours is; and if you can put up a good slug of cash. I refinanced a year ago, and got a great rate, but only because I paid off almost half of my old mortgage. For the remainder, I got a 10-year mortgage at a fixed rate of 2⅝%.