There is a rule of thumb as far as an interest rate drop that would make it worth looking at refinancing. If rates drop 1% to 1.5% from the current rate, that is when you should take a look at refinancing. You should consider the total cost, how long it will take to recoup those costs and how long you actually plan on staying in the house.
The information presented is general in nature and is for information purposes only. It is not intended to provide specific legal, tax or other advice to individuals.
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