True Confessions: Should You Refinance Right Now?

Here’s What to Consider

In today’s True Confessions with your trusted real estate professionals, we’re talking about something that’s on a lot of homeowners’ minds lately — refinancing. That is, if you have bought a property since September 2022.

Over the past few weeks, we’ve received an influx of calls and texts asking, “Is now a good time to refinance?” or “Do you have a trusted lender you recommend?” If you bought your home anytime after mid-2022, chances are your interest rate might be in the high 6s or even 7s. The good news? Rates have recently taken a healthy dip — and now we’re seeing numbers in the low 6% range.

That shift could make refinancing a smart financial move. The key is to run the numbers with a trusted lender who can show you how long it would take to recoup your costs. And if you don’t already have someone you trust, our team has incredible lender partners we’d be happy to connect you with.

We often hear homeowners say, “I think I’ll wait and see if rates go even lower.” While that’s tempting, there can be a cost of waiting. Last year, rates hit a temporary low before bouncing back up — and some homeowners missed out on thousands in savings over the course of the last year.