With interest rates so low, should I refinance?
Updated: Jun 3
Interest rates are low, home values are high. Perfect time to refinance right? Well, it depends. In general, debt is best avoided, however it depends on how you intend to use the money, how much you will pay to refinance and how disciplined you are with payments.
With rates as low as they are, refinancing become more compelling. Saving money on your house payments may be the raise you were looking for.
The analysis depends of factors such as how much you could cut your monthly payments, how much will you pay in closing costs and how long do you plan to remain in your home. For most people, if you can shave one-half to three quarters of a point off your mortgage rate, you need to look at refinancing. To fully understand all the options you can contact me and I will be glad to take your through the maze with you in mind, not me. Feel free to fill out the application - https://www.paulmix.com/apply
and I will be glad to call you with some options to see if refinancing makes sense for you.