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The "Should I Refinance" Rule of Thumb – RefiAdvisor – The Should I Refinance Rule of Thumb. Refinance rates are hovering near four percent, the lowest levels in sixty years. If you’re currently paying six percent or more on your home loan then the two percent rule applies to you but what about everyone else? If you’re paying 5%, even 4.

The popular method of calculating the break-even period on a refinance is. it easy for you with my refinance calculator 3a Refinancing One FRM Into Another to Lower. Many loan officers use this rule of thumb, which completely ignores how. is concerned with how long they have to pay, which should be every borrower.

The way mortgage. refinancing worthwhile, even if you expect to be in the home longer than that. You may find there are other ways that provide a better long-term return on your money than.

The typical rule of thumb is that if you can reduce your current interest rate by 0.75% to 1% or higher, then it might make sense to consider a refinancing move. The first step is to calculate your monthly savings should you do the refinance. For example, suppose you have a 30-year mortgage loan for $200,000.

– To make refinancing your mortgage worth your while, there is a very specific rule of thumb that you need to follow. If you can’t lower your interest rate by at least this perfect number, you should plan to stay with your current monthly payment as it doesn’t make sense to refinance.

One rule of thumb is that refinancing can be worth it if there’s a difference of at least one percentage point between your current mortgage rate and the new rate you can get. As an example, the national average interest rate for a 30-year fixed-rate mortgage was recently 4.2% (up from 3.66% a year earlier).

The typical rule of thumb is that if you can reduce your current interest rate by 0.75% to 1% or higher, then it might make sense to consider a refinancing move. The first step is to calculate your monthly savings should you do the refinance.

Refinancing your mortgage isn’t always worth it. To make refinancing your mortgage worth your while, there is a very specific rule of thumb to follow.