Columbus Refi Alert: Rates Are Stabilizing—Here’s Why Waiting Won’t Help You

Mortgage rates in Columbus ticked down again this week, settling around 6.19%—still one of the best levels we’ve seen since early spring. But here’s the real headline: Fed Chair Jerome Powell made it clear last week that he doesn’t expect any additional rate cuts in 2025.

Translation?
This is probably as good as it’s going to get for a while.
Not worse. Not dramatically better.
Just… stable.

And for homeowners sitting on high-interest debt, old PMI, or equity they actually want to use—stable rates are your green light, not your delay signal.

✅ Why “Waiting for Lower Rates” Is Now a Losing Strategy

With Powell essentially shutting the door on further cuts, the big rate-drop fantasy is gone. Anyone waiting for a magical 5% range is going to be waiting until their kids graduate high school.

Meanwhile, your credit cards, auto loans, and personal loans sure aren’t waiting.
They’re compounding.

If you can replace 20–30% APR debt with a 6% mortgage, that math wins every time.
This is exactly why I’m seeing refinance applications pick back up across Powell, Dublin, and New Albany.

✅ Real Example: A Columbus Family Saved $312/Month

Last week, I ran a blended-rate analysis for a homeowner with:

• A 3.875% mortgage
• $42,000 in credit card/auto loan debt
• PMI still hanging around from their original purchase

Even with their “low” rate, their true blended interest rate was over 9%.
By refinancing, we:
✅ Rolled in the debt
✅ Eliminated their PMI through an appraisal waiver
✅ Dropped their total monthly obligation by $312/month

This is what I call smart refinancing—not rate chasing.

✅ A Quick Note on Appraisal Waivers

For any conventional refinance, I run both Fannie Mae and Freddie Mac systems.
If we can get an appraisal waiver, we:
✅ Skip the appraisal
✅ Skip the cost
✅ Speed up the closing
✅ Keep the value high enough to remove PMI

This is why so many Columbus homeowners are refinancing now—the process is simpler than they expect.

✅ Should You Refi Now? My Honest Take:

If:
✅ You have high-interest debt
✅ You’ve got PMI
✅ You purchased in the last few years
✅ You want cash-out for renovations
✅ You’re not planning a move in 2026

…then waiting helps no one, especially with rates flattening instead of dropping.

This is your window.

👉 Run your numbers with me today: PreapprovalWithTom.com