The Cost of Refinancing a Mortgage

Mortgage rates have dropped to historic lows in the past year, causing many to refinance their mortgage. Refinancing your mortgage can help you save money. One report estimated the average savings to be $300 per month after refinancing. But there are some upfront costs you should know about before refinancing your mortgage. The First Cost of Refinancing: Closing Costs Closing costs are 2-5% of the...

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