An offer to refinance if rates drop in the future might not help you save in the long run
Lenders have a proposition for home buyers who can’t stomach an 8% mortgage rate: Buy now, and refinance later for free.
Lenders are making these offers because the market for mortgages cratered as the Federal Reserve raised interest rates to two-decade highs to tame inflation. The average rate on aThis copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
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