[dewilson58]

Originally Posted by M2inOR

This will take some math.

We got 15 year mortgage in August a month before we closed in Sept 2019. 2.875% for 15-year mortgage, after 20% down on a new home. Simple and quick process at Citizens First, and rate was discounted after providing proof of military service. Last month, looked at refinancing with 15-year rates just above 2%. Was not worthwhile since closing costs were high and reduction in monthly rate was negligible. You'll need to sit down with a calculator or mortgage broker to check the numbers to see if it makes sense for you. Yes, rates are lower, but you need to see how it affects you.

Wasn't the old rule of thumb, must cut 1% to justify the fees?? I think so.