With the interest rate having its largest cut in about 24 years–down to 3 1/2 percent, many are considering refinancing or borrowing money. I myself have considered refinancing, but have concluded that the interest rate at the banks isn’t low enough to make it worthwhile. I’m thinking I need at least a full percent drop from my bank to cover closing costs and to make it a financial win for me. What say you?
Do any of you want to share what you consider when refinancing? or how else you invest your money when the interest rates are low? If we’re lucky, Alabama Investor may shed some light on this.
What about your current investments? I know I lost a lot of money in the stock market about two weeks ago. What’s the best methods to recovery? Mine is simple–stay put.
That’s a good question?? Joseph and I have had someone looking at that for us. You’ll have to give me some info on that subject.
Patsy
Good question. I looked at refinancing last summer but I don’t think I’ll be in my house long enough to recover the closing costs/fees.