Rates are up 36 basis points since January and the share of refi apps fell to 62.9% last week. Was February the peak of the refi boom?
"Home sales continue to ascend in the first month of the year, as buyers quickly snatched up virtually every new listing coming on the market... Sales easily could have been even 20% higher if there had been more inventory and more choices."
- Lawrence Yun, NAR's chief economist.
Owning your home outright means there is no fear of foreclosure, giving you peace of mind. It also offers a significant amount of equity if you ever need to borrow against your home's value.