"Since then, I've leaned toward fixed rates simply because I value predictability over potential short-term gains."
Fair point, but isn't there a middle ground? Sometimes a shorter-term fixed rate (like 10 or 15 years) gives stability without locking you into higher long-term interest... just something to consider.
Good point about shorter-term fixed rates—I see clients choosing those options quite a bit. They offer predictability and usually lower interest, but monthly payments can be higher... definitely worth crunching numbers to see if it fits comfortably into your budget.
Have you also considered how long you're planning to stay in your home? Sometimes shorter-term refinances look great on paper, but if you're thinking of moving soon-ish, the upfront costs might outweigh the savings...just something else to factor in.
Good point about the timing—I learned that lesson the hard way. Refinanced once, thinking we'd stay put, then my spouse got a job offer out of state a year later...ouch. Definitely worth crunching numbers and thinking realistically about your plans.
Yeah, timing can really mess things up. I haven't refinanced myself yet, but my sister went through something similar. She refinanced her mortgage to snag a lower rate, thinking she'd be in the house at least another five years. Then, surprise...twins happened, and suddenly the cozy little bungalow wasn't cutting it anymore. They ended up moving less than two years later, and after all the closing costs and fees, she barely broke even.
So, I'm definitely a bit skeptical about refinancing unless you're pretty sure you'll stick around long enough to offset those upfront costs. Like you said, crunching the numbers is key. If you're on the fence about your future plans—even just a little—it might be smarter to wait it out a bit.
