Parkside Advisors

Independent Investment Management

Part 2: Time to Refi?

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We want to briefly highlight that the average fixed rate on a 30-year mortgage has continued to reach new lows - recently 2.66% - since at least 1971 according to the St. Louis Fed.

30-Year Fixed Rate Mortgage Average in the US

If you have not recently refinanced your mortgage, we recommend you consider if it could be advantageous and what refinancing options might be available to you.  The average rate has been between 4.0-5.0% much of the last three years which means many clients could be well positioned to both reduce monthly payments and save on the cost of their overall loan for its duration.

The firm has a financial model and can provide you with a comparison of your existing loan to your refinancing options to help in making the decision.  Our model is able to consider various key factors (outside of simply looking at the loan interest rates) to make an apples-to-apples comparison between different loans—for example, it can compare extended or shortened duration loans incorporating time value of money and future cash flows.

Parkside Advisors is here to help.  Please contact us if you have questions about whether refinancing is worth considering for your situation.

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