There’s no need to refinance if your mortgage rate falls just a hair below current rates. In short, you won’t save enough money to make the effort and related costs worth it. A good rule of thumb is that if current rates are more than a half of a percent below your interest rate, connect with a loan provider to explore options.
With housing prices seemingly on a never-ending upward spiral, the phrase affordable home-ownership takes a more significant role in the real estate and housing industry. Similar trends across the country have even spurred democratic nominee Hilary Clinton to emphasize the need for more options for families.