There are a lot of reasons you might think refinancing your
mortgage. The main reason to refinance is to save money by lowering your mortgage
rate and your monthly mortgage expenses.
The bond market is a complicated thing, and it is comprehensible
if most people don’t use a lot of time thinking about it. It’s time to think
about refinancing your mortgage.
Jeff Adams, best-seller author and investor has been helping
thousands of regular people reclaim their lives and create personal financial
freedom by implementing his real estate systems for success. Jeff Adams supposed
that this is the time to refinance your mortgage.
When considering whether to refinance, you are exploiting
the fact that you can fully refund a home mortgage whenever you want and take
out a new one.
Everyone’s facts are different, but if the present rate is
half a percentage point below the rate on your mortgage, a refinance is
potentially compelling. If it is closer to a gap of a full percentage point, it
may be a slam dunk unless you expect to move soon.
But taking out a new credit comes with costs, such as origination
and appraisal fees characteristically in the low four figures. The open
question is whether you will enjoy the benefits of lower rates for long enough
to cover that upfront cost.
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