Time to Refinance Your Mortgage (Again)?

KCS Wealth

February 5, 2020

We’ve noticed that mortgage rates are approaching their all-time lows again, with the average interest cost now nearly matching the levels seen during 2013 and 2016 (see the chart below). If you’ve been waiting for a good opportunity to refinance, we believe that now may be your chance, with our research indicating that 30 year fixed rate mortgages can be had for about 3.5% with no or low closing costs. The savings from this can quickly add up— for example, on a $500,000 loan, each 0.50% reduction in rate translates to about $1,700 more in your pocket annually. Over the loan’s lifetime, the savings would be a large multiple of that.

Refinancing your mortgage isn’t always about just the rate though, so if you want to see if this could benefit your overall plan, please reach out to us at