Should I refinance my mortgage interest?
We have a 1.5 with ARM interest only mortgage at the moment. Did you at 5.25% 3 years ago. We were far interst payments with no payment to the client. But our home price was above 50k at the same time, I suppose, have gone as equity. I expect my income to increase significantly in coming years, but as we get closer to the mark than 5 years, I’m always nervous to get the money we are going sky high, and I was looking at a turnover of 30 year fixed rate loan of 5.8%. We intend to stay in this house for atleast another 3-4 years. Do you think it is wise to refinance at this point?