Rates are at all time lows. They have been lower than we ever thought possible for an extended time. But just because rates are low, does that mean it makes sense to refinance?
Every home owner's situation is different. Just because you can save 1% on your interest rate, doesn't necessarily mean the refinance makes sense. You have to look at the big picture. What is the cost of the refinance, how much time are you adding on to your mortgage, etc. If the mortgage professional you are working with doesn't look at the "big picture" maybe they are just in the transaction for the paycheck, and not for the lifetime client.
It is my belief that not making money today because I am honest about a client's financial position, will benefit much more down the road than it does if I push a product for my financial gain. Clients should always come first, and you should treat them how you want to be treated.
This is one of my business philosophies.
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