Re: When to refinance a mortgage?

From: Rich Carreiro <rlcarr@animato.pn.com>
Subject: Re: When to refinance a mortgage?
Date: Sun, 20 Sep 1998 14:27:48 -0400

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>     I keep watching the mortgage rates drop.  How many points below my 
>     original rate should they fall before I consider refinancing?

There's no single answer.  It depends on how long you plan to stay
in the house, how much in transaction fees the re-fi will cost, etc.

Basically, it's worth re-financing if over the remaining time you
plan to stay in the house, the money saved by the lower payments
will make up for what it costs you to do the re-fi.

Rich Carreiro
rlcarr@animato.pn.com
P5-100/RedHat Linux 4.1


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