Is it the right time to refinance? Some homeowners who try to time the market in order to get the best rate can end up saving a lot of money. However, many of them end up kicking themselves for years to come because they missed the boat.

Conventional wisdom says rates will be somewhat flat throughout 2020. That means all consumers who have not refinanced and plan to remain in their existing home for three or more years should assess refinance opportunities sooner rather than later.

There are four scenarios that you want to look at.  If any one (or more) of these scenarios applies to you, it is time to refinance.

  1. Is the interest rate lower than your current mortgage?
  2. Would your payment be less? (It might be, but if not, and the loan works for your circumstances, that’s okay, too.)
  3. Is your loan term shorter?
  4. Are your closing costs manageable?

Refinancing makes sense when you plan on staying in the house long enough to see the savings of the refinance. Call Scott at 503-703-4699 or email him at to go over numbers and see if a refinance is right for you.