“Should I refinance?” is often the wrong first question. Start with: What do I want my mortgage to do differently? Mortgage recasting is especially easy to overlook. It does not replace your mortgage. If your servicer and loan terms allow it, you make a substantial principal payment and the servicer recalculates your required payment over the remaining term at your existing rate.

The 7% refinance question is not whether rates are “good” or “bad.” It is whether the new loan solves a real problem before its costs are recovered.

The current "sideways" market is a gift for those who were stressed by the highs of 2025. Whether the goal is to slash a monthly payment, wipe out high-interest credit card debt, or reinvest in a property, the "April Pivot" provides the data needed to make a calculated move.

Last year, the headlines were dominated by "higher for longer" narratives, and many buyers bit the bullet, locking in rates north of 7%, sometimes touching 7.5% or higher, just to secure a roof over their heads in a competitive Southeast market.