I know — we probably would have saved something like $20-30 a month with that half percent. Still, over the course of a 30-year mortgage, the interest savings would be several thousand dollars.
Of course, that’s what refinancing is all about!
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok
Only when the Prime Rate gets ridiculously low does it have an effect on home loans. It does have an effect indirectly but its not a linear function.
I know — we probably would have saved something like $20-30 a month with that half percent. Still, over the course of a 30-year mortgage, the interest savings would be several thousand dollars.
Of course, that’s what refinancing is all about!