Hopes are high among homeowners that interest rates will fall—but any decision to refinance a mortgage should be based on more than just that.
That’s according to veteran real estate expert Jennifer Hammond. Ms. Hammond said she expects interest rates to continue falling, leaving uncertain investors more positive about investing their cash in real estate.
She also said to look out for hidden fees in the fine print of your mortgage before making any decision on refinancing your home. And to keep an eye out for local programs that offer incentives to buyers in your area.
For Americans interested in selling their home, she says that low inventories may prove a silver lining in the current market—depending on the specifics of the locality.
