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Mortgage interest rates are hitting new lows

September 18, 2020

A 30-year mortgage with an interest rate below 3%! A 15-year mortgage at 2.5%! These are amazingly low rates and “cheap money.”

If you have a mortgage, now may be just the time to refinance. To justify the closing costs in a refinance, we generally think that one should be saving at least 1% on the interest rate.

It is wise to check current rates with two to three mortgage providers before choosing one. Contact us if you would like a list of potential providers.

If you do not have a mortgage, consider sharing this information with family members or friends. Information on refinancing may help a loved one or friend reduce their monthly mortgage payments and pay less on their mortgage in the long run.

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