When Does Refinancing Make Sense?

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Refinancing makes sense every time there is the slightest tick down in interest rates, as long as the fees paid to do the refinancing do not out weight the potential gains. Consider how often a loan can be refinanced with information from a financial adviser in this free video on refinancing loans.

Part of the Video Series: Investments & Money Management Tips
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Video Transcript

Re-fi, Re-fi, Re-fi! No it's not a fire drill. This is Roger Groh at Groh Asset Management. The question today is when should you ref-fi your mortgage or other loans, and the answer is probably every time there is the slightest down tick, and as long as the value of that down tick is less than the fees that you paid to do the refinancing. How can you determine that? It's usually pretty simple. Look at your loan agreement, write down the numbers on both sides. Maybe it's a quarter of a point, but it's not going to be a whole lot. Other things to consider while refinancing, how often will your new loan give you the right to refinance that in case rates keep going down? But in general every time there is a down tick, Re-fi Re-fi Re-fi! I'm Roger Groh, with Groh Asset Management, thank you very much for spending time with me.

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