Interest rates have gone crazy low!!!!!!!!!!!!!
I recently got a letter offer to refinance my mortgage at a rate of 3.6% interest. I checked around and my local mortgage broker whom I used when I refinanced in 2010 offered me a new 15 year mortgage locking in at 3.375% interest, with $250 off closing costs, to replace my current 15 year mortgage which is at a locked rate of 4.25% interest.
The math shows that my new monthly mortgage payment would be $200 less than my current monthly mortgage payment..........that is an extra escort per month, fellas. It is a no brainer.