While interest rates have ticked up from their recent lows in March of this year, mortgage rates are still at their best levels in over a year.
Depending on when you bought your home or refinanced last, it may be worth looking into refinancing? Apart from interest rates alone, my rules of thumb to consider when refinancing are:
How long do you expect to remain in your home?
As refinancing is never “Free” we need to determine how long it takes to “payoff” your one-time fees associated with your loan via monthly mortgage savings.
If costs can be covered by your savings within two years or 24 months of mortgage payments, I believe refinancing may be worth considering.
***Does refinancing make sense for you?
Send me your most recent mortgage statement and we can explore what opportunities may be available for you? Contact Burke Mortgage.
PSA: Ticks on the Rise in CT
Speaking of the uptick in rates, tick season is now fully underway in Connecticut. We love living in Connecticut but Connecticut is home to many different species of ticks. And as we know they carry diseases that are transmissible to humans.
I hope you find the information provided helpful. Stay safe and enjoy Connecticut’s great outdoors!