Coronavirus Cash Crisis: Should I Refinance My Mortgage?

The video tutorial discusses the current low interest rates and the potential benefits of refinancing a mortgage. It highlights the associated costs, such as closing costs, and suggests using online refinance calculators to determine if refinancing is beneficial. The tutorial also emphasizes the favorable market conditions for borrowers, suggesting that it is a good time to consider refinancing if one is currently in a higher interest rate.

Why might now be a good time to consider refinancing your mortgage?

• There are no closing costs involved.

• The housing market is declining.

• Interest rates are at record highs.

• Interest rates are at record lows.

What is one of the costs associated with refinancing a mortgage?

• No costs involved.

• Increased interest rates.

• Higher monthly payments.

• Closing costs similar to buying a house.

What tool is recommended to assess the benefits of refinancing?

• A mortgage broker.

• A real estate agent.

• An online refinance calculator.

• A financial advisor.

What should you ensure when considering refinancing?

• The costs are higher than the benefits.

• The benefits outweigh the costs.

• There are no closing costs.

• The interest rate is the same.

Why is the current market described as a 'customer's market' for borrowers?

• There are many banking opportunities available.

• The housing market is unstable.

• Interest rates are increasing.

• There are fewer banking opportunities.