How to Decrease Interest Rate on a Fixed Rate Loan?

Here’s a good example. If interest rates drop significantly, you may want to investigate refinancing.

According to the US Department of Housing & Urban Development most experts agree that if you plan to be in your house for at least 18 months and you can get a rate 2% less than your current one refinancing is smart.

Refinancing may, however, involve paying many of the same fees paid at the original closing plus loan origination and application fees.