Have a question?
What is Should I Refinance Yet?
Should I Refinance Yet is an automated tool designed to help you keep track of mortgage interest rates and alert you when refinancing might make sense for your specific situation.
How does Should I Refinance Yet work?
Should I Refinance Yet uses information about your mortgage and current interest rate data to provide you and our analysis to determine if it is worth refinancing your mortgage. We look at several different factors including your current interest rate, the current interest rate, and the closing costs to determine if it is worth refinancing.
Based on the frequency you choose, we'll check interest rates, run an analysis, and provide you with an update so you can know when it might be worth refinancing.
Where do you get your interest rate data from?
The interest rate data that we use for the calculations is the national average interest rates sourced from the Federal Reserve Bank of St. Louis. You can find the data here for 30 year fixed rate mortgages and here for 15 year fixed rate mortgages. We are also looking into other sources of data to get you even more personalized interest rate data.
Can you tell me exactly when to refinance?
We're not financial advisors and while we look at several different factors, we don't know your entire financial situation so we still recommend you to consult with a financial advisor or a loan officer.
While we can't tell you exactly when to refinance, we can give you a recommendation on when it is worth considering based on your inputs and our analysis.
Another thing to keep in mind is that we don't know what the future holds, so we can't predict what interest rates will be in the future. We can only give you a recommendation based on the data we have available.
How often can Should I Refinance Yet check and provide updates?
When you sign up, you'll have an option to choose how often you want us to check for updates. You can choose between weekly, monthly, or quarterly. Depending on the volatility of the market, you may want to increase or decrease the frequency.
Can I change how frequently you check against current mortgage rates?
How easy is it to cancel?