With rates once again this low, is it time to refinance?  Yes, possibly if you can reduce your interest rate by at least 3/8th's of a percent.  But do a side-by-side comparison of a no-cost or low-cost refinance option vs. a full cost refinance because interests can vary between the programs.

 

NOTE TO LISTENER:  Each day, David Lykken produces a one-minute video, called “Today's Mortgage Minute” and it covers what happened with mortgage rates, housing and the economy and, time allowing, he will comment on what is on the economic calendar today that could move mortgage rates either up or down.  This short podcast is the audio version of the daily video known as Today’s Mortgage Minute that appears on hundreds of radio, television and newspaper websites across the United States and can be seen by millions of consumers each month.  David welcomes your feedback in the comment section below.