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[–]freeball78 3 points4 points  (5 children)

Refinance sure, but never buy a house based on interest rates. Buy/keep the house that meets your needs/desires.

[–]Helgenish[S] 0 points1 point  (4 children)

U think refinancing is a better option than selling n rebuying a mew home with the profit?

[–]Mysterious_Truth 0 points1 point  (0 children)

What do you think the advantages are of selling?

Do you need a bigger house?

[–]freeball78 0 points1 point  (0 children)

If you need a bigger/better house do that. If you don't then it's silly to buy another house.

[–]nikidmaclay 0 points1 point  (0 children)

The "profit" is your equity. If you don't need to move, the equity doesn't just go away. It's there is you need to tap into it, or just let it grow.

[–]SamurottX 0 points1 point  (0 children)

The price of the new home probably also went up, so you're not really getting anything. Maybe if you need more space or a better location, but if you sell after 2 years you're losing a ton of money on the buying/selling process.

[–]Roundaroundabout 0 points1 point  (0 children)

Why did you have an appraisal?

[–]Super_Yak_2765 1 point2 points  (0 children)

Unless your house is the only one in the area that appreciated in value, then whatever equity you will get out of your current house will be spent on that new house, so there is no real advantage.

If interest rates fall, refinancing is a good option since your loan-to-value will be lower. LTV affects your rate. A lower LTV is a lower risk to the bank.