Is now the right time to refinance a mortgage?
Refinancing may not pay off for most homeowners planning to move in the near future, according to Realtor.com senior economist Jake Krimmel. The key to refinancing, he said, is knowing if a move passes a rule called the "breakeven point," which looks at whether upfront costs are outweighed by the savings from a lower rate."Loan size, remaining term, and, most importantly, how long the borrower plans to stay in their home […]
