Question : How much should your current interest rate ( existing Mortgage) change, before it makes sense to refinance?
My current rate is 6% for 15 years. I want to re-fi at 5 % for 10 Years (4,500 in closing fees), but I have been paying on this current mortgage for 9 years, so currently I am past paying all interest. So does it make sense to re-fi and start all over gain with several years of just paying interest.?
refinance mortgage interest rate

Best answer:

Answer by coolbreeze
6% is not bad. I wouldn’t do it just because of the 5 grand out of pocket also you only have 6 years left. your almost paid off don’t extend it any more.