Today, the Federal Reserve cut rates 0.75%, meaning that rates are once again approaching historical lows.  Many long-term mortgage rates are now in the neighborhood of 5.00%.

If you are someone with good credit (FICO above 720), you may be able to refinance your home into a low mortgage rate.  If you scroll down the sidebar on our website, you will be able to see average mortgage rates from Bankrate.com.

No one likes to see markets decline and the economy enter a recession.  However, the current environment may be a blessing to you over the long run if you are able to refinance your mortgage and lock in a low, long-term rate.

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