Refinancing in Summer 2025: What Wausau Homeowners Need to Know

With summer in full swing, many Wausau homeowners are asking the same question: "Is now the right time to refinance my mortgage?" If you've been waiting for the perfect moment to explore refinancing options, you're not alone. The current market presents both opportunities and challenges that every central Wisconsin homeowner should understand.

The Current Refinancing Landscape

While national mortgage refinance rates are averaging around 6.89% for 30-year fixed loans, Public Service Credit Union offers significantly more competitive rates for our members. Our current 15-year fixed mortgage rate is just 5.90% APR, compared to the national average of over 6.20% for 15-year loans.

Most experts predict national rates will remain in the 6.5% to 7% range through 2025, making our member-focused rates an even more attractive option for Wausau homeowners. The vast majority (84%) of Americans who bought a home in the past year plan on refinancing to a lower rate in the future. However, with 84% of collective mortgage debt priced at 6% or below, finding truly competitive rates like ours becomes essential.

Wausau's Unique Housing Market

Our local market tells an interesting story. Wausau's median home sale price was $200,000 last month, up 8.1% since last year, while homes are taking an average of 168 days to sell as of March 2025. This represents a more balanced market compared to the frenzy of recent years.

Areas like Wausau may remain flat or see slight declines in home prices, which could present opportunities for homeowners looking to tap into their equity through refinancing. The good news? Wausau's median sale price is 62% lower than the national average, making our community an attractive place to establish long-term roots.

When Refinancing Makes Sense This Summer

You Have a High Interest Rate

The homeowners who could benefit most from a mortgage refi right now are homeowners with very high mortgage rates. If you secured your mortgage when rates were above 7%, refinancing to current rates could provide meaningful savings.

You're Planning to Stay Put

Refinancing makes the most sense when you can lower your interest rate and plan to stay in your home long enough to recoup the refinance closing costs. To calculate your break-even point, divide your mortgage closing costs by the monthly savings your new mortgage will provide.

You Want to Access Your Home's Equity

Many homeowners have seen significant equity growth due to rising property values. Refinancing in 2025 could allow them to leverage this equity for home improvements, debt consolidation, or other financial goals.

You Want Predictable Payments

Converting from an adjustable-rate mortgage to a fixed-rate mortgage is a way to avoid future interest rate hikes. With rate uncertainty ahead, locking in a fixed rate can provide peace of mind.

“Are you looking to lower monthly payments, reduce total interest paid, or access cash for improvements? Your goals will determine the best refinancing strategy.”

Special Summer Savings at Public Service Credit Union

We're excited to help Wausau homeowners make the most of this summer season. From June 1st through August 31st, we're offering:

• $90 off closing costs for all mortgage loans (full application must be received before August 31st)

• 90 Days, No Pay on eligible loans (excludes real estate loans/mortgages)

• 0.90% rate reduction on secured consumer loans involving purchases from dealers or refinances from other financial institutions (excludes real estate loans/mortgages)

Plus, any loan that closes during our 90 Days of Summer promotion will be entered to win one of five $90 Kwik Trip gift cards!

Making the Right Decision for Your Family

Refinancing is often worth it if it lowers your monthly payment, total interest costs, or both. However, every situation is unique. Consider these factors:

Your Credit Score: While many lenders price their rates based on credit scores, Public Service Credit Union takes a different approach. We offer the same competitive rates to all qualifying members regardless of credit score variations. As long as you meet our basic lending criteria, you'll receive our posted rates – no credit score-based pricing adjustments.

Your Timeline: If homeowners plan to move within the next five to seven years, refinancing may not be the best plan. If you don't plan to stay in your home long enough to recoup refinancing costs, refinancing might not make sense.

Your Financial Goals: Are you looking to lower monthly payments, reduce total interest paid, or access cash for improvements? Your goals will determine the best refinancing strategy.

The Public Service Credit Union Advantage

At Public Service Credit Union, we understand that refinancing can feel overwhelming. That's why we've streamlined the process to provide you with a simplified experience. One team member handles your entire refinancing journey – from initial application through processing, underwriting, and servicing.

Our current competitive mortgage rates (effective June 1st, 2025):

• 15-year fixed: 5.90% APR

• 10-year fixed: 5.65% APR

• 5-year fixed: 5.40% APR

• 8-year balloon (amortized up to 30 years): 5.65% APR

Our mortgage refinancing features include:

• Maximum 80% loan-to-value ratio for most situations

• Minimal closing costs compared to traditional lenders

• Quick approval process – typically within 24 hours for complete applications

• Local expertise – we understand the Wausau market and your needs as a central Wisconsin resident

• Member-focused rates that are significantly below national averages

Your Next Steps

If you're considering refinancing this summer, start by calculating your potential savings using our online mortgage calculators at publicservicecu.org. Consider scheduling a free consultation with our Certified Credit Union Financial Counselor to discuss your specific situation and goals.

Remember, mortgage refinance rates change throughout the day, every day, so staying informed about current market conditions is essential. It's important to compare at least a few different refinance companies to ensure you're getting the best possible terms.

Ready to Explore Your Options?

Don't let this summer pass without exploring whether refinancing could benefit your family's financial future. Our team is here to provide the personalized guidance you need to make an informed decision.

Contact us today to discuss your refinancing options:

• Email: loans@publicservicecu.org

• Phone: (715) 842-9865

• Visit us: Our Wausau branch

Take advantage of our special summer promotional savings while they last. Your financial future is worth the conversation, and we're here to help you navigate every step of the way.

Current rates and promotional offers are subject to change. All loans subject to credit approval. Equal Housing Opportunity Lender. Federally insured by NCUA.