Refinancing Boom and the Math Behind It | Tulsa News

Homeowners are flooding the market with refinances—over three million in 2023, the highest since 2021—with average loan amounts hitting $385K. While rates have climbed, many are still refinancing to snag better deals than a year ago—not just to cash out. But here’s the catch: closing costs run $2K–$6K, so it’s not always worth it. Experts say refinancing can slash monthly payments or shorten terms—if you’re getting a real rate drop. Still, it’s a numbers game: weigh savings against fees. Bottom line? It’s smart for some, risky for others. Always consult a pro before locking in. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9bac56d8126426c4