Why Not Add a Mortgage to Your Black Friday Shopping Listby Tim Manni
With this week’s big rate drop — the conforming 30-year FRM dropped to 5.77% yesterday from 6.06% on Monday, the largest single-day drop since September 8 — now is a great time to run the numbers and see whether refinancing is for you. Be sure to use our Refinance Calculator, because it’s important to know the real costs — and potential savings — before making a move.
With this easy-to-use, interactive refinancing worksheet, consumers can see how their existing mortgage payments might change if they were to refinance, and, just as important, how long it would take to recover any closing costs associated with refinancing.
The holiday season may be your best opportunity to lock in on a rate we haven’t seen in a long time.