Ask yourself Quote by Barbara Corcoran
“Refinancing your mortgage usually makes sense if you can lower your interest rate by at least two points. But the most important question to ask yourself is, how long will it take you to break even?”
About This Quote
Source Book: “Shark Tales”, 2015
Advises evaluating refinancing by comparing interest rate reduction to break‑even timeline.
In simple terms: Check how long before savings cover costs.
Calculate break‑even before refinancing.
Themes
Mood
Type
When to use this quote
- home buying
- investment planning
Key Concepts
Questions to Reflect On
- What is your current loan term?
- How much can you save?
Interest rates fluctuate, affecting break‑even.