Question:

Should I refinance with current mortgage refinance rates?

Answer:

The easiest way to find out about current mortgage refinance rates and if you'd benefit if you chose to refinance now is to either schedule an appointment with a loan officer at your bank and discuss refinance possibilities, or insert quoted rates of a new loan in an online calculator to find out how much your payment will change with current mortgage refinance rates.

If current mortgage refinance rates are favorable, your new monthly payment will be reduced, and you will break even within a year from completing the refinance.

It is good to evaluate risks before you actually decide to refinance. Anytime mortgage rates drop, the temptation to refinance tries to make you move. Make sure current mortgage refinance rates are worth it before you make the move.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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