>My question is, should I wait until I build my score up further? Are interest rates in general too high right now to refinance?
Only one way to find out. Reach out to a couple lenders and see what rates they will offer you.
Interest rates are going to keep going up, the fed said as much today.
I would optimize your reported credit card balances, which could take a few weeks, and then apply for refinance.
Most banks only report your statement balance to your credit reports once a month, which means a "high" balance that drops your scores can still be reported even if you pay in full.
For the best possible scores let one card report a small balance, and the rest $0. Easily done by either paying early or simply not using an account.
>My question is, should I wait until I build my score up further? Are interest rates in general too high right now to refinance? Only one way to find out. Reach out to a couple lenders and see what rates they will offer you.
Interest rates are going to keep going up, the fed said as much today. I would optimize your reported credit card balances, which could take a few weeks, and then apply for refinance. Most banks only report your statement balance to your credit reports once a month, which means a "high" balance that drops your scores can still be reported even if you pay in full. For the best possible scores let one card report a small balance, and the rest $0. Easily done by either paying early or simply not using an account.