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23 August 2010
Lately, I have been answering this question for many people: rates are so low, does it make sense to refinance? Yes rates are once again at all time lows. 30 year fixed is at 4.25%, 20 year fixed at 3.875% and 15 year fixed is at 3.75% (all rates are approximate and dependent on your credit score). In my analysis, I take all things into consideration but in particular how much time is left to pay on the current mortgage and what are the closing costs are the most important criteria. Every person's situation is different---if you are wondering if it makes sense to refinance your mortgage...give me a call.
