Mortgage rates are at the highest level in nearly 8 months. So why are some people refinancing?
The 30-year mortgage rate has inched up to the highest level since early last summer. Refinances are unexpectedly going up.
Here’s how the Secured Overnight Financing Rate works and why it might matter for your mortgage
SOFR is a benchmark rate which certain variable rate financial products, for example certain mortgages, can be tied to.