Interest rates over the last 3 years have been at a 2 decade high, but hope is on the way!  Police Mortgage expects rates to fall in the 4th quarter of 2024 and we have seen some programs that make exploring refinancing a smart decision.   Dropping your mortgage rate by one-half percent or more can lead to huge reductions in your monthly mortgage payment.  It also can trim years off your mortgage and allows you to build equity in your home quicker.  

Police Mortgage cautions that sometimes rates will fall and then jump back up quickly.  It is better to be ready to pull the trigger right when rates fall, than wait and possibly miss out on the savings.  This  requires 2 things: 1 - to have communications with Police Mortgage about your overall situation so they know when to pull the trigger on a refinance: and 2-  to proactively work with Police Mortgage to ensure they have all of your information updated and ready to instantly submit when rates hit your "magic number"