Last year, there was a rush to refinance debt while interest rates remained low because most owners expect rates to increase this year. While rates did increase initially, the Fed has since shifted its policy and cut rates back again—but that doesn’t mean there is not need to continue to lock in low rates. David Pascale of George Smith Partners says that there should still be some urgency to refinance debt.
“With rates where they are now, if you can lock them in, there still should be some urgency, particularly on the fixed rate side,” Pascale, SVP at George Smith, tells GlobeSt.com. “Locking in a 10-year fixed rate loan at sub 4% is extraordinary, and even if the treasury and LIBOR are permanently low or are for a long time, credit spreads can be volatile.”
Read the full article: Why You Should Still Refi While Rates Are Low (GlobeSt.)
