Interest Rates

If you are waiting to refinance, it may be time to make your move. Rates are moving up-and could stay higher for a while, experts say. According to Freddie Mac, the average rate for a 30-year fixed-rate mortgage climbed to 4.08% for the week of March 22, up from the record low of 3.87% it hit in February. Rates on 15-year loans were up to 3.30% last week from the record low of 3.13% reached earlier in March. Keep in mind that these rates are still below where they were at this time last year. However, if you are considering refinancing, according to the economists, there really is no point in waiting any longer.