Hundreds of thousands of homeowners are itching to refinance their costly fixed-rate loans, but it might take a while. Many are now eyeing variable rates – but beware.

Many homeowners are itching to refinance costly loans – but it could take a while

Nearly every other homeowner with a fixed-rate mortgage has an interest rate of 4 percent or higher. This means that a significant wave of refinancing could start if the rate drops to 3 percent. Foto: Jens Dresling
Nearly every other homeowner with a fixed-rate mortgage has an interest rate of 4 percent or higher. This means that a significant wave of refinancing could start if the rate drops to 3 percent. Foto: Jens Dresling
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Have you bought a property in the last three years and opted for a fixed interest rate?

Or are you an established homeowner who, since 2022, has taken advantage of rising interest rates to convert your low fixed-rate mortgage to a more expensive one in order to cut a chunk off your remaining debt?

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