Refinance frequency, deterrants, timing :: Southwood Mortgage

• How often should you refinance your primary home mortgage??? Answer:? Whenever you can save money by doing so.? We can run the numbers for you at any time and compare your monthly savings by refinancing with the cost of doing so, and compute a ?breakeven point?.
• Once you?re past the ?breakeven point? you?re profiting every month from the refinance.
• The beggest deterrants to refinancing a mortgage?? Knowledge, Fear and Laziness.? There are still a lot of people out there happily paying their 5.5? mortgage every mont.? They wonder if they should refinance but don?t know where to start.? They leave money on the table each and every month.
• Is now the time to refinance?? It?s hard to pull the trigger and say ?lock me in? when rates seem to fall every week.
• Rates may fall again, but not by much.? They?re so low now that if they were much lower lenders would stop lending because investors would stop buying mortgages with such a low yield.
• And you don?t have to refinance just once.? As rates have dropped over the past year+, many people have refinanced more than once.
• If the real estate market starts looking stronger, rates will rise.
• If the employment picture in the US begins to brighten, rates will rise.
• If Europe looks like it?s beginning to fix itself, rates will rise.
• Keep these things in mind.? Change could come quickly.

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Source: http://southwoodmortgage.com/2012/07/26/refinance-frequency-deterrants-timing/?utm_source=rss&utm_medium=rss&utm_campaign=refinance-frequency-deterrants-timing

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