If you haven’t been paying attention then you probably are not aware that fixed rate mortgages are back near historic lows. The WSJ published this article over the weekend explaining that 30 year fixed rate mortgages are back near the lows of 2009 and 15 year fixed rate mortgages are lower than they were last year.
If you’ve never spoken with me about no closing cost (NCC) refinances you should. Effectively, a NCC refinance allows you to replace your existing loan with a new one with a lower interest rate and not incur any costs. In doing this we can discuss how to reduce your mortgage term or use the savings to eliminate other debts. I’m always happy to provide a no obligation analysis for you to review.