F.A.Q.

Should I Refinance Yet is an automated tool designed to help homeowners track mortgage interest rates and assess whether refinancing may be worth exploring for their specific loan. Instead of manually watching rates, you set your savings threshold once and we alert you when the numbers cross it.

Just the basics about your current mortgage: your remaining loan balance, your current interest rate, and the month and year your loan originated. That's enough for us to run a full analysis. You can also optionally provide a target sell year if you plan to move, which we use to calculate whether you'd break even before selling.

When you sign up, you provide details about your current mortgage. We then track national mortgage rates and run a personalized analysis each time rates change. The analysis estimates your potential new monthly payment, projected interest savings over the life of the loan, and how many months it would take to break even on closing costs.

Based on the update frequency you choose, we'll send you a report summarizing the current picture for your loan. You can also customize your analysis preferences — including target refinance term, closing cost percentage, whether costs are paid upfront or rolled in, and any cash-out amount — from your account settings.

Yes. Closing costs are central to how we calculate whether refinancing is worth it. By default we estimate closing costs at 3% of your loan balance, but you can set a custom percentage in your account settings to match a real quote from a lender.

You can also choose whether the closing costs are paid upfront or rolled into the new loan — each approach changes your monthly payment and breakeven timeline differently, and we account for both.

Yes. The refinancing calculator supports comparing up to three offers side by side. You can enter different interest rates, loan terms, and closing costs for each offer and see a direct comparison of monthly savings, total savings, and breakeven point. On mobile, offers are shown one at a time with tab navigation.

The rate data used for automated analyses is the national average sourced from the Federal Reserve Bank of St. Louis (FRED) — you can view the 30-year and 15-year series directly. These are updated weekly.

The calculator and interest rates pages also show current lender rates so you can compare real offers against the national average.

We provide a data-driven assessment — whether the estimated savings and breakeven timeline cross your threshold — based on your loan details and current national rates. We are not financial advisors and we don't know your complete financial picture, so we always recommend confirming with a licensed loan officer before making any decision.

What we can do is make sure you're never caught off guard. When the numbers cross your threshold, you'll hear about it promptly.

When you sign up, you can choose how often you want to receive updates: daily, weekly, monthly, or quarterly. If you're watching a volatile market, daily or weekly keeps you closest to the action. If rates have been stable, monthly or quarterly is usually sufficient.

Yes. You can update your check frequency at any time from your account settings — no need to contact us. Just log in, go to Settings, and choose the cadence that works for you.

No. We do not sell your mortgage or financial data to third-party vendors, lenders, or advertisers. The information you provide is used solely to run your analysis and send you updates.

You can cancel at any time by contacting us at hello@shouldirefinanceyet.com. No long forms or phone calls required.