You snooze, you lose. Faster than you could ever imagine, billions of dollars in potential refinancing savings have pretty much evaporated into thin air. Just weeks ago, mortgage rates had fallen to their lowest level in 19 months as positive economic data turned into chatter on Wall Street for lots of rate cuts from the Fed. Now they are back on the rise.
As Thomas Ryan, an economist at Capital Economics, previously told Fortune, “Mortgage rates are far more related to the expectation of what the Fed will do rather than what the Fed actually does.”
