Refinancing again

Just a quick note for those of you who have mortgages but maybe haven’t been paying close attention: home loan rates are pretty good right now. Over the weekend, the rate for a 30 year fixed rate mortgage at our credit union dropped below 5%. That’s first time I have seen it do that, and since I’ve had an alert set up to notify me when the rate reached 4.875% for quite some time, I’m inclined to believe that this is a new low for at least as long as I’ve been a homeowner.

We have an appointment to refinance since the drop is significant and the payback period is reasonably short (since we can just do a straight loan modification). Obviously, your rates and costs may vary from mine, but now might be a good time to run the numbers and see if you’d benefit.

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