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If you’re stuck with a higher mortgage rate, now might be the perfect time for you to consider refinancing. Many lenders are offering rates well below the historical average, and you may be able to benefit from refinancing.
If you currently have an adjustable rate mortgage (ARM), then it may be worth considering refinancing into a fixed-rate loan. Making this decision could get you a better rate, but more importantly, it will get you a stable one. Some may even decide to simply adjust their ARM to extend their already low rates. Either way, stability in loan terms provides a sense of reassurance.