When should refinancing be considered?

Refinancing varies for every situation. Rule of a thumb is that if you can reduce your current interest rate by 1% you should refinance. Also, consolidating other revolving credit accounts in to a fixed and lower interest rate through your mortgage, can be benefitial to you.

Talk to your broker and ask him to analize your current situation and give you an estimate on your possible savings so you can make a reasonable decision and move forward.

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