Asked this question a few months back, but a lot of things have changed. Short version: Bought our house in November but only put 5% down as we were waiting on sale of previous house. It has now sold. Have the opportunity to refi, take a 1/2 pt off rate, and put in the money to get to 20% down and remove PMI ($84/mo).
Mortgage payment will go down almost $300/mo. But we are fine making current payment. Anticipate being in house up to 10 years, probably not much longer. Is it better to refi, or hold the money and put it in market. I put some in casino/airline/hotel stocks about two months and am making a killing.
I'm leaning towards keeping mortgage as is and investing the money I would have used to get to 20% down, but am curious everyone else's thoughts.
Submitted June 09, 2020 at 08:48PM by twsmith23 https://ift.tt/3dQ2hbV
