Is now the best time to refinance my condo?
I own a condo in another state and I am currently using it as a rental property. I cannot continue to pass up on the low mortgage interest rates that are being advertised. I currently have a fixed 5.5% interest rate with my mortgage company, but I want to shop around for a better deal! I also am choosing not to pay any of the closing costs associated with the refinancing up-front and I know I will have to request these fees be “wrapped around” the back of total amount of the new loan.
Is it worth hitting my excellent credit score, by shopping around with several requests for refinancing loans? Or is it better to just stick to my current fixed rate?
This question is in the General Section. Responses must be helpful and on-topic.