Exactly when is the right time to refinance your mortgage? That’s the million dollar question. The truth is that there isn’t any way to be 100% sure but there are certain factors you can take into consideration. First, consider if interest rates are projected to go down. We know that interest rates are at historic lows so that’s not likely – in fact, the FED hinted that at the possibility of negative interest rates. Second, consider how much it will cost you to go through the process of mortgage refinancing versus how much you’ll save. If the amount you’ll save is higher, whether in cash back or in a lower monthly payment, then it may well be worth it.

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