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I’m thinking that there is some rule that says something like “Refinancing your home makes sense only if you intend to stay in the same house at least “X” number of years and you can reduce your rate by at least “X” percentage points. Is there such a rule?
i also need to know what’s in it for me when i refinance my home mortgage.
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Consumer expert Vera Gibbons clarifies to Chris Wragge about conditions in the housing market for buyers and homeowners thinking about refinancing while interest rates are at incredible lows.