The Benefits of Refinancing

I think a lot of people don't think about or consider the points situation. When I get a mortgage loan, if it's a 30 year loan, I'm looking at keeping that sucker for 30 years unless rates drop significantly where it makes sense to refinance. So you have to just run the numbers. This is all math. You have to deal down payment and if paying points to lower your rate is an option, consider that to see what loan and what rate would benefit you. It's actually the banking industry that benefits more from people being so focused on interest rates.