Refinancing for 20 yr fixed at 2.5%

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marius8617

Hi all,

I currently have a 3.125% mortgage and was looking around at refinancing rates. I was offered a 2.5% for a 20 yr fixed rate (currently have a 30 year (1 year into the mortgage). I know that you shouldn't consider if the new rate unless it's at least a 1% drop in the rate, but will shaving 9 years off of my mortgage make it worth proceeding?

Thanks!

Tags: Refinancing

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