Wednesday, December 30, 2009, 8:12PM ET - U.S. Markets Closed.

Real Estate

Should I Refinance My Mortgage?

Good (397 Ratings)

2.750632/5

Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages. Even though rates have crept up over the last couple of months, refinancing may make sense for you. Use the calculator to analyze your situation.

Current Loan Information	Input
Current loan balance	(0-9999999)$
Annual interest rate	(0-30)%
Number of months remaining	(1-480)

Proposed Loan Information	Input
Annual interest rate on new mortgage: (%)	(0-30)%
Number of months (30 yrs = 360)	(1-480)
Loan origination fee: (%)	(0-5)%
Other fees/discount points: (%)	(0-5)%
Other fees: ($)	(0-9999999)$

See All Calculators

Current Loan Information	Input
Current loan balance
Annual interest rate
Number of months remaining

Proposed Loan Information	Input
Annual interest rate on new mortgage: (%)
Number of months (30 yrs = 360)
Loan origination fee: (%)
Other fees/discount points: (%)
Other fees: ($)

See All Calculators

{ "fields" : { "udata" : [ "loanAmount" , "interestRate" , "currentTerm" , "refinanceRate" , "refinanceTerm" , "originationFee" , "discountPoints" , "refinanceFees" ] } }

Powered By

This calculator is provided by Financial Calculators, Inc., and is intended solely for general information and educational purposes. You should not take any action on the basis of the information provided through this calculator. Please see the disclaimer for further information and limitations.

Rate This calculator

Good (397 Ratings)

3/5

Sign-in to rate!

Rates

See today's average rates across the country.

• Mortgage

  Loan Type	Today	Last Week
  30 Year Fixed	5.34%	5.20%
  15 Year Fixed	4.67%	4.65%
  1 Year ARM	3.87%	3.91%
  30 Year Fixed Jumbo	6.20%	5.97%
  5/1 ARM	4.50%	4.28%
  3/1 ARM	4.87%	5.02%

  Source: Bankrate
• Home Equity

  Loan Type	Today	Last Week
  $30K Home Equity Loan	8.40%	8.37%
  $50K Home Equity Loan	8.32%	8.27%
  $75K Home Equity Loan	8.36%	8.30%
  $30K HELOC	5.17%	5.16%
  $50K HELOC	4.91%	4.90%
  $75K HELOC	4.92%	4.90%

  Source: Bankrate
• Savings

  Savings Type	Today	Last Week
  6 month CD	1.02%	1.02%
  1 year CD	1.43%	1.44%
  3 year CD	2.06%	2.06%
  MMA	0.91%	0.87%
  $10K MMA	0.97%	0.93%
  $25K MMA	1.15%	1.12%

  Source: Bankrate
• Auto

  Loan Type	Today	Last Week
  36 Month New Car Loan	6.66%	6.71%
  48 Month New Car Loan	6.80%	6.84%
  60 Month New Car Loan	6.84%	6.88%
  72 Month New Car Loan	6.12%	6.12%
  36 Month Used Car Loan	7.12%	7.17%
  48 Month Used Car Loan	7.05%	7.05%

  Source: Bankrate
• Credit Cards

  Card Type	Today	Last Week
  Business Credit Cards	10.74%	10.74%
  Low Interest Credit Cards	11.97%	11.97%
  Balance Transfer Credit Cards	12.03%	12.09%
  Cash Back Credit Cards	12.49%	12.49%
  Instant Approval Credit Cards	13.32%	13.32%
  Reward Credit Cards	13.40%	13.42%

  Source: CreditCards.com

View rates in your area

Historical chart data and daily updates provided by Commodity Systems, Inc. (CSI). International historical chart data and daily updates provided by Morningstar, Inc. Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-Time continuous streaming quotes are available through our premium service. You may turn streaming quotes on or off. All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.

Yahoo! Answers is provided for informational purposes only, and no Q&A is intended for trading or investing purposes. Yahoo! shall not be responsible or liable for the accuracy, usefulness or availability of any Q&A information, and shall not be responsible or liable for any trading or investment decisions based on such information. View Complete Answers Disclaimer.