JP Morgan Chase homeowners wishing to refinance or homeowners wishing to get a mortgage with Chase have seen a slight increase in mortgage interest rates over the past week or so. Homeowners have been refinancing to get a lower mortgage rate and homebuyers getting into the housing market for the same reason, but reports on increasing mortgage rates have many worried.
However, analysts say that while they do expect interest rates to increase on mortgages, they don’t believe they will spike suddenly and homeowners or homebuyers that are looking to get a good rate on a mortgage or refinance still should be able to do so.
Mortgage rates on a 30-year fixed rate mortgage were as low as 4.75% but have risen to slightly above 5% as of late. However, those looking for a low interest rate for the purpose of lowering their monthly mortgage payment should still be able to do so.
While various lenders may offer specific homeowners different mortgage rates, homebuyers shouldn’t be afraid to shop around. Yet, homeowners and homebuyers both should keep in mind that no matter if they bank with JP Morgan Chase or another lender, making sure you are on stable enough financial ground to afford refinancing or buying is vital as a mortgage or refinance isn’t something to take lightly.