Should You Refi Right Now?

Hey neighbor —

Quick check-in. Rates have been drifting down most of the month and I've had a bunch of past clients and neighbors ask me the same question: "Should I refinance?" Short answer: maybe. Here's what matters.

📉THE RATE check

If you're trying to figure out whether rates have moved enough to do anything about it, here's the real comparison.

If you locked a year ago

6.83%

April 2025 average

→

Rates today

6.30%

Down about 0.5 points

Not a huge move on its own — but if you locked two or three years ago, the gap is much bigger. And the direction matters. Rates have dropped four weeks in a row, and the market is pricing in more softness through the summer.

🏡AROUND Michigan

What's happening where you live

+4.2%

Michigan home values, year-over-year

$270K

Median sale price statewide

Days on market (well-priced homes sell fast)

Translation: your home is likely worth more than it was last year. If you've been thinking about selling, or pulling equity, or just curious what your place could sell for today — now's a good time to check.

💬LET'S TALK about refi.

Here's the quick-and-dirty decision framework. This isn't a rule — every situation is different — but it's a reasonable starting point.

If your rate is 7% or higher

Worth a conversation. You're probably leaving money on the table. 15 minutes with me and you'll know for sure.

If your rate is 6.5% – 7%

Maybe. Depends on your loan balance, how long you'll stay, and what you'd do with the savings. Worth running the numbers.

If your rate is below 6.5%

Probably not — yet. Unless you're doing a cash-out for something specific, the math usually doesn't work. Keep the rate you've got.

One thing I'll say out loud: if a telemarketer calls you and says you're "approved" for a refinance, please don't say yes without a second opinion. Most of those calls are chasing commission, not savings. The math has to work for you, not for them.

I'll run the numbers for free, no pressure, no application required. If refi doesn't make sense for you today, I'll tell you that.

🧠MY TWO cents

I think rates drift lower through the summer — but I've been wrong before and so has every economist on TV. What I can promise: if rates drop meaningfully and it'd help you, I'll call you. I track the clients I've worked with, and when something actually moves your number, you'll hear from me first.

🙋IF YOU'RE curious

Three easy ways to use me this month:

1
Quick refi check. Reply with your current rate and loan balance. I'll tell you in one sentence whether it's worth a deeper look.
2
Home value check. I'll pull a free broker price opinion on your home — just reply with your address. No obligation, no sales call.
3
Just catching up. Reply and say hi. I genuinely love hearing from past clients, even if there's nothing to do right now.

Thanks for being on my list. The inbox is always open.

— Rob