If you’re thinking about refinancing your Santa Cruz home, you might want to think about a few other things first.
1. Are the mortgage rates higher or lower than when you first financed your house? If current mortgage rates are lower, refinancing might be a good idea. If they’re higher, however, you should reconsider.
2. Why are you refinancing? If you’re trying to get a better mortgage rate, it might be a good idea. However, if you’re refinancing to pay off credit cards or go on vacation, not only should your probably not refinance, you probably shouldn’t be going on vacation, either.
3. Do you currently have a fixed rate or an adjustable rate mortgage? Since mortgage interest rates are still rising, it might be a good idea to refinance to a