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Fence Sitting and Mortgage Refinance Rates

There are a respectable percentage of mortgage refinance rates shoppers that are termed as “fence sitters”.  So just what is a mortgage refinance rates fence sitter any way?  These are the refinancing homeowners that have a very difficult time making a decision as to when to apply for their new home loan and lock their mortgage rate.  As they see mortgage refinance rates dropping, they fear that if they lock their rate then, interest rates will fall further and they will have missed out on an even better deal.  As refinance mortgage rates rise above the point where they were first looking, they hold back on locking because they now view the mortgage rate as too high to lock.