How to Refinance After the Rate Spike: 2025 Playbook
Follow this 2025 refinance playbook to evaluate current rates, breakeven costs, and strategies after the recent mortgage rate spike.
Why this article matters
- Determine your break-even point by dividing total closing costs by the monthly payment reduction.
- Explore combination strategies such as refinancing into a shorter term while eliminating PMI.
- Rate-and-term refinances typically require 20% equity, but streamlined FHA and VA options can work with less.