Navigating Student Loan Repayment: Refinancing and Payment Pressures

Refinance rates have seen some movement this week, with 15-year fixed rates decreasing and 30-year fixed rates increasing. The Federal Reserve has paused its rate-hiking cycle after aggressively hiking rates since March 2022, and will use this time to study incoming economic data. Refinance rates fluctuate daily and may see further movement in response to market conditions. Homeowners should focus on whether refinancing makes sense for their financial situation, rather than timing the market.