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Rules of Thumb for Refinancing
Refinancing your mortgage is a process that, if done at the right time, can save you a lot of money over the long-term. You should look into refinancing if you have a fixed-rate mortgage and your interest rate is higher than current rates, or if you have... More »
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www.studyfinance.com/jfsd/pdffiles/v13n3/tai.pdf

money by refinancing their mortgages. The conventional rule-of-thumb is to refinance only if the market interest rate has fallen at least 2% below the existing mortgage rate. Another conventional wisdom is referred to as the 2-2-2 rule, i.e., when interest rates have dropped 2%, the borrower has already paid two years on the ...

www.goamplify.com/blog/homebuying/5-reasons-to-refinance-now.aspx

Jul 6, 2017 ... Rates or circumstances have changed. If rates have dropped since your original finance rate, refinancing may significantly decrease the amount of money you pay over the course of your loan. A good rule of thumb is at least a 1% rate improvement is worth the refinancing expense, but calculate the savings ...

www.richwoodia.com/time-to-refinance

Over time, mortgage rates often fluctuate. Depending on where rates currently stand, now may or may not be a good time for homeowners to consider refinancing their mortgage. How can you determine whether it makes sense at any given point to refinance your mortgage? In the past, one rule of thumb was if the current ...

www.vsihomelending.com/WhentoRefinance

Ever hear the old rule of thumb that says you should only consider refinancing if your new interest rate will be at least two points below your existing rate? Perhaps that was good advice a number of years ago, but since refinance costs have been falling recently, it could be time to look into it. Refinancing has a variety of ...

www.yourarealender.com/WhentoRefinance

Ever heard the old rule of thumb that says you should only refinance if the new interest rate will be at least two points lower than your current rate? Perhaps that was good advice several years ago, but as refinance costs have been falling recently, it could be a good time to take a serious look. Refinancing has various ...

www.talbotsettlement.com/refinance-faq.aspx

Is There a Best Time to Refinance? The old rule of thumb is that a person should refinance when mortgage rates drop 2% or more below their current interest rate. However, refinancing may be a viable option even if the difference is less. A modest reduction in the loan rate can still trim your monthly payment. For example ...

keygentcorp.com/news/bond-refinancing

Nov 6, 2017 ... The industry rule of thumb is a present value savings of at least 3%. Present value savings is calculated by discounting the debt service savings by the bond yield of the refunding bonds. Dividing this figure by the principal amount of bonds refunded results in the present value savings percentage. Another ...

www.thestreet.com/story/13101229/1/confused-about-mortgage-refinancing-follow-these-6-expert-tips.html

Apr 6, 2015 ... Ignore the 1% Rule. Here's an old rule of thumb you may have heard: You shouldn't refinance unless you can get at least 1% less on your interest rate. Except that's not always true. “The fact is that there are occasions where a reduction in rate of even a quarter of a percent can provide benefits,” says ...

www.melansonrealestate.com/buyers/refinancing

The old rule of thumb is, refinance if rates fall more than 2 points below your existing rate, because refinancing involves closing costs (loan origination fee, prepaid interest, etc.) For anything less than 2 percent, the savings on your monthly mortgage payment might not be significant enough to offset the closing costs.