If you own a home, your mortgage is likely your biggest monthly expense, and refinancing can significantly change that payment. But with rates constantly shifting, knowing when and if to refinance can be tricky, and the 'best' time might surprise you.
Mortgage refinance rates are trending because the Federal Reserve's actions directly impact them, leading to significant fluctuations.
The Federal Reserve recently held its benchmark interest rate steady, but its previous hikes pushed mortgage rates to their highest in over two decades.