Ask An Expert: Still a Good Time to Refinance?

Have a question about the housing or mortgage markets? Louis Spagnuolo of WCS Lending in Boca Raton has answers. To submit a question that Louis may answer next week, click here.

Q: With interest raising rising for the past month, has the window closed to refinance my home? — Neil

A: There’s no question interest rates have increased recently, but the window may not be closed just yet. This week the Federal Open Market Committee confirmed that the economic recovery is continuing, though at a rate insufficient to bring down unemployment. That prompted the committee to keep the federal funds rate unchanged and continue its existing policy of reinvesting principal payments from its securities holdings.

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