In the years before Roe v. Wade, an anonymous group of Chicago-area women known only as The Janes came together to provide safe, clandestine abortions to pregnant people in need. Over the course of several years, the group provided over 11,000 abortions. when they were finally busted by the police in 1972, it wasn’t because of police surveillance or the group’s anti-war activism or even their willingness to provide abortions to the pregnant family members of police officers. It was a family member of a Jane patient who tipped off the police.
Here Are Today’s Refinance Rates, Oct. 10, 2022: Rates Rise
Both 15-year fixed and 30-year fixed refinances saw their mean rates trend upward. The average rate on 10-year fixed refinance sank.
Like mortgage rates, refinance rates fluctuate on a daily basis. With inflation at a 40-year high, the Federal Reserve has hiked the federal funds rate five times in 2022 to try to slow surging inflation. Though mortgage rates are not set by the central bank, its rate hikes increase the cost of borrowing money and eventually impact mortgage and refinance rates and the broader housing market. Whether refinance rates will continue to rise or fall will depend largely on how things play out with inflation. If inflation cools, rates will likely follow suit. But if inflation remains high, we could see refinance rates maintain their upward trajectory.
If rates for a refi are currently lower than your existing mortgage rate, you could save money by locking in a rate now. As always, consider your goals and circumstances, and compare rates and fees to find a mortgage lender who can meet your needs.
30-year fixed-rate refinance
For 30-year fixed refinances, the average rate is currently at 7.07%, an increase of 3 basis points compared to one week ago. (A basis point is equivalent to 0.01%.) A 30-year fixed refinance will typically have lower monthly payments than a 15-year or 10-year refinance. This makes 30-year refinances good for people who are having difficulties making their monthly payments or simply want a bit more breathing room. However, interest rates for a 30-year