I have a $200,000 mortgage on my house. There are 10 years remaining on the loan and interest rate is 8%. Interest rates have fallen since I bought the house; now they are 6%. The bank is willing to refinance my loan if I am willing to pay closing costs of $12,000. 

Does it make sense for me to refinance?

Answer rating: 100% (QA)

To determine whether it makes sense to refinance you need to compare the costs and benefits of the n... View the full answer