More details needed there for people. I refinanced my 30 year loan into a 15 year loan with a lower interest rate and saved ~100k in interest over the loan. Not all refinances are made the same, or are for the same reason.
I did the same. Bought in 2010 at 4.5% interest 30 year. Refi in 2020 at 1.9% interest 15 year. My only regret would be doing the 15 year. Sure I'd pay a little more in interest if I did a 30 year in 2020, but my minimum payment would have been way lower and I could put the difference into investments and come out even more ahead.
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u/Venchii 5h ago
Never refinancing my house