18% of consumers plan to refinance mortgages due to decreased interest rates.

Interest rates have decreased, presenting an opportunity for homeowners to refinance their mortgages for potential savings. However, 18% of consumers plan to refinance, and approval is not guaranteed, as lenders assess credit scores, income, and debt. Homeowners should weigh factors like closing costs and their financial situation before deciding. A mortgage modification could be an alternative for those facing financial difficulties. Consulting with financial experts is recommended.

September 23, 2024
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