When to Refinance
Contrary to popular belief, deciding when to refinance is not just a matter of the amount your interest rate has gone down. “Rules of thumb” that predetermine the best time to refinance are well intended but misguided efforts to create a one-size-fits-all strategy. The fact is, there are a myriad of reasons to consider refinancing - your rate is just one of them. Other factors that we analyze include appreciation, investment goals, college education needs, debt consolidation and elimination of mortgage insurance.
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