🏠 How much would you save if mortgage rates drop?
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Intro
With 30-year Treasury yields hitting a 17-year high, mortgage rates are feeling the pressure. If you lock in a loan today, you might be banking on rates dropping in the future so you can refinance. This calculator shows exactly how much a rate drop saves you each month, and whether the upfront cost to refinance is worth it.
🏠 Rate Scenarios
Enter your loan amount and the high rate you are looking at today. Then guess where rates might fall. A drop of just one percentage point can drastically change your monthly payment.
💰 Refinance Costs
Refinancing isn't free. Closing costs typically run between 2% and 5% of your loan amount. You need to stay in the home long enough for your monthly savings to cover those upfront fees.
🔗 See Also
📊 Results
Current Payment
Target Payment
Monthly Savings
Months to Break Even
21
Net Savings
Verdict
Refinance
Calculator updated by heyfinfam (v26.7.1) · View history
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Disclaimer: This content and any calculations provided are for informational purposes only. The views, calculations, and methodologies expressed are those of the author and do not necessarily reflect those of this platform. Not financial advice. Users are solely responsible for any decisions made based on this information.