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Banks are prioritizing new business over refi at the moment. They are also reluctant to lower rates in the hope that the dip in the 10yr is temporary. Most are currently facing a MASSIVE backlog but are hesitant to hire necessary staff as the market could evaporate on a dime. My mortgage guy told me not to anticipate rates going much lower than this but if rates do drop over a quarter point, I get to adjust to that lower rate prior to closing.
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2018 Jeep Grand Cherokee High Altitude Hemi | 2010 S4 Sold | 2010 BMW 135i Retired | 2006 Lotus Exige Sold
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