In these circumstances, chasing a small reduction in interest rates may show to be a mistake. Like different industries, you get what you pay for. Going to a brand new lender for a small price discount may imply you aren’t looked after once you have made the switch.
In brief, it would not at all times essentially make monetary sense to refinance your mortgage simply because rates of interest have dropped. Use this mortgage refinance calculator to crunch the numbers and think about all the information on your personal situation earlier than making a choice.
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