How To Save $81,000 in 30 minutes
There is no better time to refinance your home loan then right now.
The current average household mortgage debt is $500,000.
The average home loan rate is 4.63%.
That means that the average current home loan repayment on a $500,000 mortgage is $2,573
Today, the best market rate is 2.19%.
So the same home loan in today’s market is $1,896.
That is a savings of $677 per month.
That is a savings of $8124 in one year.
That is a savings of $81,240 in 10 years.