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Pull the Trigger on Refinancing?

We bought a new home in March 2024 at 6.99%. At the moment it looks like rates are hovering around 6.5%, giving us a monthly savings of $200. Our refinance costs will run between $2,500-3,000, so the break even should take 12-15 months. We plan to live here for a long time, is it worth going ahead to refinance?

I see some models predict rates down to 6%, but not until the end of 2026 and by that time we should already have broken even on our refinance costs.

submitted by /u/Transmaniacon89
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source https://www.reddit.com/r/RealEstate/comments/1mve1yg/pull_the_trigger_on_refinancing/
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