I’m thought that there is some rule that says a touch like “Refinancing your home makes significance 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 am thought of refinancing my home. I can drop 2 percentage points off my current loan. The only problem I have is that the new loan is related some how to freddie mac. Is refinancing my loan to a FM backed loan a potential danger in the future? Or do I have nothing to worry about?