Refinancing Again

Filife team
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    With mortgage rates near record lows again I am looking into refinancing again. Although I had refinanced just over 13 months ago, it looks like I can save some significant money by refinancing again. Running the numbers quickly, I can go from a 30 year mortgage down to a 20 year mortgage and not pay much more in monthly payments, while saving about $45,000 in interest over the life of the loan. The breakeven point (between financing and not financing – covering the refinancing costs) for this refinancing is about a year. So it looks like a good deal for me.

    Hopefully I will know next week whether it is a go or not – I am waiting on the company to get back to me with final figures and approval.