With mortgages once again at historic lows, I’ve once again considered refinancing our mortgage. A few months ago we weren’t sure how long we’d be living in our current home and so we put off refinancing, despite rates being as low as 4.75% APR. Fortune has smiled on us and rates have once again come close to those lows and I’m taking another look.
Mortgage refinancing, much like buying a home, can sometimes be a scary process because it involves what usually is the largest asset you have. That’s the case for us, our home is our more valuable physical financial asset by far, and so any decision involve something of that magnitude can be a little scary.
Fortunately, mortgages aren’t quite that complicated and there is a wealth of resources available to help you compare different offers.
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