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What has fewer steps than square dancing?

Refinancing. Enough song and dance, now is the best time to refinance.

In November of 2019, we were seeing interest rates in the 4 to 4.5% range. By March of 2020, they had dipped to 3.25%. From August to December of 2020, they almost reached a 50-year all-time low mark.

Lower monthly payments.
Unless you financed your home during the super-low rate window that occurred in 2013 (or in 2020), your interest rate, most likely, is above 3.5%. The closer it gets to 4% or higher, the more a refinance is simply a great idea to save thousands of dollars.

Get cash.
Cashout refinances are now important to help either reinvest into your home by making important changes to it like remodeling, adding a pool, or building an outdoor office pod (welcome to the new COVID world!), while keeping the cost of borrowing money low or lower than you currently have.

Pay off loans.
You can greatly simplify your financial situation by using equity to improve overall cash flow by paying off high payments (and higher interest rates), short-term debt. Sometimes it’s not a matter of how much people owe, but how they’re paying on it that’s the important thing.

Make smart financial decisions.
One of the worst financial decisions anyone can make is the choice to pay off a home loan and not take advantage of low rates. Pay cash for a home? Nah…put that money to work for you in the financial markets.