Is Now the Time to Refinance?
Yes, quite possibly.
Mortgage rates are tied to the 10-year Treasury yield (finance-ese for 'interest rate').
Since it was first issued in 1790, the yield has never been lower. Today it's near 0.5%.
Even just last month it was at 1.6%.
That means there could be an opportunity for you to refinance your mortgage (even if you just got one). You'd lock yourself into the lowest rates we've ever seen.
Whether you should or not depends on a number of factors including how long you expect to live in your current house. Talk to your financial planner to review your goals and run the numbers to determine if refinancing is worth the closing costs.
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DISCLAIMER: This article is for educational purposes only and should not be considered financial, tax or legal advice. Consult your financial planner for help with your specific situation.