In today’s uncertain economy, homeowners are feeling the pressure of high inflation and financial strain. Many are searching for ways to alleviate the burden, but what’s often overlooked is that knowledge is power—and taking action now can save you money before opportunities slip away.

At Independent Home Finance Inc., we understand how crucial it is to make informed decisions about your mortgage. Whether you’re looking to lower your monthly payments, access home equity, or secure a more stable loan, now is the time to act.

Refinance Activity is Surging – Are You Missing Out?

According to the latest data from the Mortgage Bankers Association (MBA), refinance applications jumped 10% last week, reaching their highest level since October 2024. Even more telling, refinances are up 33% compared to this time last year—a clear sign that savvy homeowners are acting while rates are favorable.

Why the Surge?
Rates Are Dipping – The average 30-year fixed mortgage rate declined slightly to 6.95%, while jumbo loan rates fell to 6.96%.
Refinance Borrowers Are Capitalizing – The average loan size for refinance applicants increased, indicating that more homeowners are taking advantage of the opportunity.
More VA Loans, Fewer FHA Applications – VA loans rose to 14.6% of total applications, reflecting increased activity among eligible borrowers.

But Not Everyone is Making the Move

While refinancing is gaining momentum, purchase applications dipped 2% from the previous week, highlighting a potential slowdown in new home purchases as prices remain high.

Key Market Highlights:
–Refinances now make up 40.2% of all mortgage applications, up from 39% last week.
–Adjustable-Rate Mortgages (ARMs) rose to 6.0% of total applications.
–The average purchase loan size reached $456,100—the highest since March 2022.

The Time to Act is Now – Independent Home Finance Inc. Can Help

Many homeowners wait too long to refinance—often until the damage has been done. Procrastination can cost you thousands in unnecessary interest payments. Acting now, while rates are still favorable, could mean:
Lower monthly payments
Reduced overall interest costs
Access to home equity for other financial needs

At Independent Home Finance Inc., we specialize in helping homeowners navigate refinancing options that fit their financial goals. With over 25 years of experience, our team provides customized mortgage solutions designed to maximize your savings.

Don’t wait until the window of opportunity closes. Contact Independent Home Finance Inc. today to explore your refinancing options and take control of your financial future.