Harmony asked:


With prime rate continually decreasing would it be wise to refinance my mortgage. Just bought the house in July and my rate is decent, but over time a decrease would help.

Does it affect property taxes? Will I pay closing cost? Lower monthly payment?

What would be pros vs cons?
Thanks! I’m with Countrywide and they sent me to a mortgage broker (?) she said that to have no closing cost or points the rate wouldn’t be the lowest b/c they have to pay for title work etc. I hve no prepayment penalty either.

Nancy