![\"frugallibrarian\"](\"https:\/\/i0.wp.com\/blogs.davenportlibrary.com\/reference\/wp-content\/uploads\/2008\/12\/frugallibrarian.jpg?w=1050&ssl=1\")
If I could time the market, I’d probably be a millionaire and not working here. Or, living out of a cardboard box because I got cocky. Depends on how you look at it.<\/p>\nIf I could time the market, I’d probably be a millionaire and not working here. Or, living out of a cardboard box because I got cocky. Depends on how you look at it.<\/p>\n
But this much I’ve read is certain…refinancing your mortgage can save you a whole bunch of money. The adage is that if a mortgage rate is 1% lower than your current rate, it is advantageous to pay the closing costs (around $1500) to have them rework your loan with the new rate.<\/p>\n
With the economy, mortgages are at 37-year-lows<\/a><\/strong>. You are going to be hard-pressed to find a more competitive rate at another time. Plus, since the fed cut the short term lending rate<\/a><\/strong> yet again, this should move over into the mortgage market in the coming weeks, making things even more interesting.<\/p>\n Only a fool would feel pressured to make such a snap decision, but in the coming weeks this could be a bird in hand for your wallet. It only takes a minute to compute your scenario online<\/a><\/strong>. You may very well find that a cut from 6.375% to 4.5% is like someone handing you a couple hundred bucks each month. Yes please.<\/p>\n Here are the rates from some local lenders:<\/p>\n Ascentra Credit Union<\/a><\/strong> If I could time the market, I’d probably be a millionaire and not working here. Or, living out of a cardboard box because I got cocky. Depends on how you look at it. But this much I’ve read is certain…refinancing your mortgage can save you a whole bunch of money.[Read more]<\/a><\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[364,13,1],"tags":[368,370,369,367,365,366],"class_list":["post-1889","post","type-post","status-publish","format-standard","hentry","category-consumer-news","category-news-you-can-use","category-reference","tag-credit","tag-frugal","tag-home-buying","tag-interest-rates","tag-mortgages","tag-refinancing"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pd0CXx-ut","_links":{"self":[{"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/posts\/1889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/comments?post=1889"}],"version-history":[{"count":10,"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/posts\/1889\/revisions"}],"predecessor-version":[{"id":1905,"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/posts\/1889\/revisions\/1905"}],"wp:attachment":[{"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/media?parent=1889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/categories?post=1889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.davenportlibrary.com\/reference\/wp-json\/wp\/v2\/tags?post=1889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nIH Mississippi Valley Credit Union<\/a><\/strong>
\nWells Fargo Bank<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"