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Refinancing to lower rates doesn't mean you have to reset your loan to another 30 years. Use this math and you'll pay down your loan more quickly than if you had done nothing.
As compared to the day *after* the expiration of the $8,000 home buyer tax credit, today's cost of carrying a 30-year fixed rate mortgage to term is lower by $51,000. Mortgage rates are on a 6-month rally.