Hard times have a silver lining for lots of homeowners. They turned us into serial mortgage refinancers, saving lots of money. With rates now down to ridiculous lows, is it time to do it all again?
The answer: Definitely, if you haven’t refinanced in three years or more. Rates are a lot lower now, and you can save a bundle.
If you last refinanced a year or two ago, the answer is maybe. Rates are a little lower now, and you’ll save some money. You’ll have to decide if the savings is worth the hassle.
A lot depends on the size of your mortgage. Art Kerckhoff of Kirkwood bought his house a couple of years ago. He refinanced a month ago at 3.5 percent. Read more on St. Louis Post-Dispatch.