Texas Lone Star Lending Video
The Cost of Waiting to Refinance
If you have a $300k mortgage, every month you wait to refinance, you lose about $300 that you could be spending on something else.
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Read the transcript
In this week's 5-Point-5, we'll reveal the cost of waiting to refinance your mortgage.
1st point: Rates are down - Interest rates are about 2% lower than they were earlier in the year.
2nd point: Special rates - Through the end of the month, we can offer special rates that are about 3/8% lower than market rates. If you closed your current mortgage in the last 18 months, there's a good chance you'll save money.
3rd point: But aren't rates going lower? - Rates have actually risen since the Federal Reserve lowered the discount rate last month. Take advantage of this opportunity in case rates rise further.
4th point: The cost of waiting - If you have a $300k mortgage, every month you wait to refinance, you lose about $300 that you could be spending on something else.
Last point: But I'm sure rates are going lower - You always can refinance again if rates drop next year - and won't you look smart for refinancing now if rates continue higher?