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Determining When it Makes Sense to Refinance
The Mortgage Professor: How can you be certain refinancing will save you money? Introducing the integrated refinance calculator
Jan. 26, 2015
By JACK GUTTENTAG The Mortgage Professor - Tribune News Service
Despite the recent increase in the growth rate of the economy, interest rates remain stubbornly low. Many mortgage borrowers who to this point have procrastinated in making a refinance decision are wondering whether the market fates are giving them another shot. And some who did refinance earlier are wondering whether they ought to do it again. A critical question for these borrowers is the degree of certainty they can have that a refinance will provide a net benefit. This article discusses three approaches to that question that have emerged over the years, and a new approach introduced here.
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