When should I refinance?
Posted by Wendy Atherton on Monday, March 14, 2022 at 12:09 AM
By Wendy Atherton / March 14, 2022
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As we move further into 2022, interest rates are STILL crazy low! You don't have any plan to move this spring so should you consider refinancing? Here are a few signs:
You think you can lower your rate by ½ to ¾ percentage points or more.
You want to renovate but you need your home equity to do so.
You want to shorten your mortgage term (to pay your home off faster) or extend it out (to lower your monthly payment).
You’ve looked at the closing costs and calculated the break-even point — and everything looks A-OK.
Refinancing is a savvy move for lots of homeowners these days. Let me know if you have questions — I’m happy to help however I can!
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