Refinance Redux
Scarcely six weeks ago, I noted that stock market turmoil was prompting a flight to safety, which in turn was 
driving down interest rates and serving up a golden refinancing opportunity.
Guess what?
After a year-end rally, global stocks are once again swooning — along with interest rates.
Bottom line: if you’re sitting in a mortgage at over 4% and plan to be in your current home for more than 2 years*, you are a good candidate to refinance at a lower rate.
Much lower.
Based on the current 10-year U.S. bond rate of 1.7%, I’d expect 30-year rates to drop to close to 3% soon.
*Two years or so is the standard estimate of how long it takes to recoup the fees associated with refinancing.
