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<body> <font face="Verdana" size="2"> <p><b>Should You Refinance Now?</b> </p> <p>If you aren't in the market for a new home, refinancing your current home may be a viable option. The most common rule of thumb used to determine the feasibility is: there should be at least a two-percent spread between the old interest and the new rate. The reasoning behind this is that the difference in interest rates will justify the expenses incurred when refinancing. </p> <p>The fact is that refinancing should be done whenever there is a significant monthly savings and you plan to live in the home long enough to recapture the costs of refinancing. </p> <p>Please remember that points paid on a refinance are not fully deductible as interest in the year paid. Most tax experts will tell you to get a par value loan when you refinance your home. This will keep your out-of-pocket cash to a minimum. Even though your interest rate may be a little higher when you don't pay "points", in most cases it is fully deductible. For impartial advice about whether to refinance or not, give your REALTORŽ a call. Professional real estate advice can help you make the right decision. </font> <p><a target="_top" href="index.shtml">Home Page</a></p> </body>