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Is Now a Good Time to Refinance a Mortgage?

Feb 19 2016

In December the U.S. Federal Reserve hiked short-term interest rates for the first time in nearly a decade, bumping up its benchmark rate by 0.25 percent.

And while the Fed held rates steady in January, it has indicated that it intends to raise them gradually over the course of the year.

This, in turn, raises a question for many homeowners — with interest rates potentially on the rise, is now the time to refinance their mortgages?

Well, it depends, says John Hudson, vice president at San Antonio, Texas-based Mortgage Financial Services and communications chair at the Association of Mortgage Professionals.

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