Should you refinance your mortgage when interest rates drop?
- Seattle, Portland, San Francisco
- 2022/12/02
Consider a mortgage refinance if your current mortgage rate exceeds today’s mortgage rates by 0.75 percentage points. Some experts also say refi when you can reduce your mortgage rate by as little as 0.5 percentage points. It doesn’t make sense to refinance every time rates decline a little bit. This is because mortgage fees would cut into your savings.
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