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The Boston Globe


Mortgage rates edge up, spurring push to refinance

Signals that rates, long near rock bottom, are poised to rise are creating an urgency for homeowners and businesses to hurry up and refinance

Is the era of super-low interest rates coming to an end?

Long-term rates, including those for mortgage loans, have jumped more than half a percentage point since the beginning of May and the prospect that they may only go higher is driving both consumers and businesses to borrow while interest costs remain near rock bottom. Local bankers and mortgage brokers say homeowners who have dawdled over refinancing have gained a sense of urgency as mortgage rates have climbed to the highest level in more than a year.

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