When's the right time to refinance?

April 17, 2015 6:11 PM

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When's the right time to refinance?

Refinancing your home can save you on your monthly mortgage payments — if done correctly. But if you don’t refinance when conditions are right, it can also cost you a pretty penny. Here’s how to figure out if refinancing is right for you.

When it comes to mortgages, the rule of thumb is that refinancing only really starts to make economic sense when you can get at least a 1 percentage point decrease in the interest rate. However, falling rates shouldn’t be the only factor in your decision to refinance. Sure, a greatly improved intere...

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