When is the best time to lock a refinancing interest rate?
To help you determine the savings that refinancing can deliver, use our Refinance Savings Calculator. You’ll be able to look at a payment schedule and compare the current interest rate vs. the rate you’re currently paying. You’ll want to consider the costs of your current payment at a higher rate against the savings you’ll get at a lower rate, even if the lower rate might not be the lowest over a rate cycle. How much will a delay cost? And do know that any projections are only projections. And if a lower rate comes to fruition, you always have the option to refinance again for additional savings.
A. To help you determine the savings that refinancing can deliver, use our Refinance Savings Calculator. You’ll be able to look at a payment schedule and compare the current interest rate vs. the rate you’re currently paying. You’ll want to consider the costs of your current payment at a higher rate against the savings you’ll get at a lower rate, even if the lower rate might not be the lowest over a rate cycle. How much will a delay cost? And do know that any projections are only projections. And if a lower rate comes to fruition, you always have the option to refinance again for additional savings.
