Is the right time to refinance right now?
May 24th, 2008 by admin
There is no set easy answer to this complex question. A rule of thumb is, if you can reduce rate of your mortage or loan by more than 1%, it may be time to refinance. Of course, other situations may make it the right time to mortgage refinance. If you can combine a 1st and 2nd loan into 1 loan, and can reduce your monthly payments, or consolidate your debt to reduce monthly costs, it may be advantageous to do so.