Interest Rates (IR) are historically low. BUT, this doesn't necessarily mean you should Refinance.

To determine if you should REFI, you want to establish your BreakEven (BE) -- how many years it will take to re-coup the cost of your refinance through lower interest payments.

If you anticipate selling prior to BE (even if IR were at 1%), it doesn't always make financial sense to refinance your loan.

But, if you plan on owning your home beyond BE, taking advantage of today's historically low IR is likely a prudent decision. Rates today are hovering around 4.25% (4.34% APR) for a 30-year fixed and 3.75% (3.875% APR) for a 15-year fixed.

Contact us today to learn your BreakEven and to determine if now is a good time to refinance your current loan in order to take advantage of these interest rates if you are not in the market to buy.  

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