The 2 percentage point rule for refinancing is just a mortgage myth: Hidden Truths

The 2 percentage point rule for refinancing is just a mortgage myth: Hidden Truths
Within the mortgage industry, the premise that your rate must drop by 2 percentage points to make refinancing worthwhile just doesn’t add up. Depending on the size of the loan and how long you expect to live in the house, a rate drop of just 1/2 percent might save you a bundle.