Lenders look at several factors to determine whether or not you can refinance your loan, including your: Shop around with various lenders and compare interest rates and terms.
Below, we discuss a few possible scenarios that you must consider, and whether fixed or floating rate is more preferable depending on the context of each situation.
However, the guides and tools we create are based on objective and independent analysis so that they can help everyone make financial decisions with confidence.
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It is not necessary to consider a much longer time horizon because you can always refinance your loan after your lock-in period concludes.
Chart data is for illustrative purposes only and is subject to change without notice.