Refinance

[Chad Reynoso]

Hi BP,

I have a refinance question...

Is it worth or a smart move to refinance for 1% reduction in rate while 9 years into current loan. Beginning 2017 my loan will cap out at 5% and stay fixed for the remainder of my 30 yr term. Advice on starting over with the interest being the majority of payment for tax write off or continue to keep existing loan at 4% until 2017 and make the current payment which has more principal reduction??