The History of Mortgage Rates: Why Now is a Good Time to Refinance

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“Those who cannot remember the past are condemned to repeat it”

– George Santayana

Can you remember the interest rate on your mortgage when you purchased your first home?

I asked this question on facebook a while ago and I received a wide range of answers. Most rates were over 6%. I now hear people in our industry talking about how rates are going up and the activity of refinance loans will dry up.