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Secret Asian Man

Should I refinance my home mortgage if the current fixed rate is a full 1% less than my current fixed rate?

asked by Secret Asian Man - 8 Answers

The current rate is 5.6% and my current mortgage is 6.6%. I got the mortgage 2 years ago.

Joshua R

Best Answer by Joshua R

Conventional Wisdom says yes. It will boil down to the costs. If you can finance the refi costs into it, how long will it take to pay that portion off based on the savings? If the time is less than the time you plan to own your home than yea refi, if not then don't. ... See all 8 answers

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