Mortgage Rate Rise Thwarts Some Refinancing Plans

Roger Wald recently discovered he would save $25,000 a year if he refinanced his five-year mortgage at 4.75 percent. Wald, an auto body repairman in Sarasota, Fla., could have gotten that rate last month. But like many homeowners, he waited for rates to fall further. Now, he’s worried he missed his chance. Mortgage rates at some lenders spiked by as much as 1 percent on Wednesday and saw little relief on Thursday, according to an AP Business writer Madlen Read. Click Here to read the full article.

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Grab your crystal ball: Where do you think rates will be at the end of this year?