# Refinancing again, is it worth it?

**URL:** <https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529>\
**Category:** Factual Questions\
**Created:** [March 31, 2003, 8:31pm UTC](https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529 "2003-03-31T20:31:46Z")\
**Posts on this page:** 6\
**Page:** 1

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**Author:** ![Zazie](https://avatars.discourse-cdn.com/v4/letter/z/6f9a4e/32.png) [@Zazie](https://boards.straightdope.com/u/Zazie)\
**Post date:** [March 31, 2003, 8:31pm UTC](https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529/1 "2003-03-31T20:31:46Z")

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We just refinanced our mortage in November/December at around 6.2%.  
Some offers are now 5.9%… Is it worth it (and possible??) to refinance again?  
Any dopers had an experience with refinancing their mortgage in such a short period of time?

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**Author:** ![kanicbird](https://avatars.discourse-cdn.com/v4/letter/k/5f8ce5/32.png) [@kanicbird](https://boards.straightdope.com/u/kanicbird)\
**Post date:** [March 31, 2003, 9:13pm UTC](https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529/2 "2003-03-31T21:13:38Z")

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I don’t think time is a problem but I have heard it’s usually not worth it unless you can get a 2% reduction in interest

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**Author:** ![barker](https://avatars.discourse-cdn.com/v4/letter/b/919ad9/32.png) [@barker](https://boards.straightdope.com/u/barker)\
**Post date:** [March 31, 2003, 9:18pm UTC](https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529/3 "2003-03-31T21:18:33Z")

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Need to know:  
Estimated Closing Costs  
Any points or origination fees

How long to you plan on living there  
Are you paying PMI  
Principal Balance of Mortgage

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**Author:** ![Zazie](https://avatars.discourse-cdn.com/v4/letter/z/6f9a4e/32.png) [@Zazie](https://boards.straightdope.com/u/Zazie)\
**Post date:** [March 31, 2003, 9:18pm UTC](https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529/4 "2003-03-31T21:18:38Z")

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ummm, good to know… Thank you Kanicbird!

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**Author:** ![Kalhoun](https://avatars.discourse-cdn.com/v4/letter/k/3bc359/32.png) [@Kalhoun](https://boards.straightdope.com/u/Kalhoun)\
**Post date:** [March 31, 2003, 9:46pm UTC](https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529/5 "2003-03-31T21:46:51Z")

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I heard that it isn’t worth it if it is less than two years since your last refinance. But I suppose that depends on closing costs and points on each deal.

We’re in the process of refinancing right now and got down to 5.375%. WooHOO!!!

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**Author:** ![Zazie](https://avatars.discourse-cdn.com/v4/letter/z/6f9a4e/32.png) [@Zazie](https://boards.straightdope.com/u/Zazie)\
**Post date:** [March 31, 2003, 10:18pm UTC](https://boards.straightdope.com/t/refinancing-again-is-it-worth-it/165529/6 "2003-03-31T22:18:20Z")

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5.375!!! That is impressive! I didn’t even that was possible!!