Refinancing primer (The Sacramento Bee)
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Thirty-year fixed mortgage rates have fallen to 5 percent and below, prompting interest from homeowners in refinancing. For those in the right situation, refinancing can offer substantial long-term savings. But not everyone is eligible or will benefit. • Don’t bother if it doesn’t lower your current interest rate by at least one percentage point. • Don’t bother if you want to refinance …
