I am in the 8th year of a 30 year mortgage @ 4.5% with 85K remaining to be paid. Would it be wise
to try to remortgage to get the current 3.5%? I have an excellent credit rating. Also, which website
do you recommend to use for comparing current mortgage rates? Thank you!

Terry Says:

Absolutely, it makes sense to refinance and lower your payment.  But instead of taking another 30 year mortgage, get quotes for a 15 year mortgage.  Your monthly payment may not drop as much, but you’ll be debt-free that much sooner.  I’d go to GuaranteedRate.com, or use my contact there: Leslie@guaranteedrate.com to walk you through it.

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