Perhaps a better question is HOW to refinance. This week the Fed (FOMC) stayed the course as advertised, raising their Fed Funds rate another 25 bps, their 8th ¼ point increase since late 2015. This takes Fed Funds to 2.00-2.25% range, and Prime to 5.25%. In their public announcement following the Wednesday meeting they reiterated (couched in language as only the Fed can do … a lexicon termed “Fed Speak”) that a December ¼ point is anticipated, and 3 more bumps to follow in 2019. In discussing the current increase, they implied that this latest hike will bring interest rates...
