We currently have a 15-year mortgage at 5.125% and looking to start our early retirement in a few months which means we won’t have a w-2 income soon. We want to refinance to a 30-year to lower our monthly payment and we plan to rent out our house during this next phase of early retirement, probably for a couple of years. How low would the rates have to be for us to trigger the refinancing? We are also under a tight timeline since we are planning to quit our jobs in a few months.
