Today, it looks like conditions are favorable for homeowners who have been considering a mortgage refinance. Rates appear to only be going higher and home values are already at all-time highs. How much longer can today’s environment remain favorable? The bottom line is that if you are a homeowner who has not recently refinanced their mortgage, it might be time to explore it.

Why is it that the most expensive homes and the least expensive homes have seen their prices increase so much compared to other homes? What do these trends mean for home buyers and the real estate market overall? The team at Peopels Choice Mortgage is here to break it down.

Some homeowners are looking to take advantage of today’s mortgage rates and do even more than merely save some cash. They have been looking for ways of tapping into their home’s equity and getting some extra cash to improve their lives. Homeowners have been doing this with cash-out refinancing.

Mortgage refinances in 2020 were up over 100% from previous year’s levels. Beyond the fact that many decided to refinance their mortgages while rates were low, many decided to refinance for more than their previous mortgage. These types of cash-out refinances can have implications on the overall market. What do last year’s cash-out refinance numbers say about the health of the housing market?