Is now a good time to refinance in Austin???
by Goodlife on July 13, 2010
One month – only took the leads we converted that month – These LEADS, how many appointments.
Is now a good time to refinance your Austin home?
Interest Rates (IR) are historically low. BUT, this doesn’t necessarily mean you should Refinance. To determine if you should REFI, you want to establish your BreakEven (BE) — how many years it will take to re-coup the cost of your refinance through lower interest payments. If you anticipate selling prior to BE (even if IR were at 1%), it doesn’t always make financial sense to refinance your loan. But, if you plan on owning your home beyond BE, taking advantage of today’s historically low IR is likely a prudent decision. Rates today are hovering around 4.25% (4.34% APR) for a 30-year fixed and 3.75% (3.875% APR) for a 15-year fixed. Contact the Goodlife Team to learn your BreakEven and to determine if now is a good time to refinance your current loan in order to take advantage of these interest rates if you are not in the market to buy in Austin. Your real estate advisors, Krisstina Wise & The GoodLife Team P.S. Take a moment to watch a quick update from our preferred lenders: [display_podcast]
