The math works if you stay long enough to recoup those fees—ideally with a break-even point under 24 months .
To give you a better idea of your or purchasing power , what are: Your current interest rate ? Your estimated home value vs. loan balance ?
Choose this if you love your home but want to take advantage of rates that are currently lower than the peaks of 2023–2025. refinance or buy new house
As of late , mortgage rates have stabilized near 6.12% – 6.38% for a 30-year fixed loan ( Forbes , Yahoo Finance ). 📉 Option 1: Refinance
Choose this if your current home no longer fits your needs, as the market offers better conditions than recent years. The math works if you stay long enough
Builders are currently offering mortgage rate buy-downs and credits that can make a new home cheaper than an existing one ( Investopedia ).
The decision to refinance or move depends on whether you want to in your current home or trade up/down for a different lifestyle. loan balance
With high home equity (averaging $181,000 recently), many are choosing to refinance and remodel instead of moving. 🏠 Option 2: Buy a New House