Builders are currently offering mortgage rate buy-downs and credits that can make a new home cheaper than an existing one ( Investopedia ).
The decision to refinance or move depends on whether you want to in your current home or trade up/down for a different lifestyle. refinance or buy new house
If your current rate is above 6.88% , you can likely save significantly ( LendingTree ). Builders are currently offering mortgage rate buy-downs and
Expect to pay 2% to 6% of your loan amount in closing costs ( Fortune ). Expect to pay 2% to 6% of your
Median prices have softened slightly (down 2.2% ), but significant crashes are not expected. Decision Matrix Typical Costs 2% – 6% of loan 2% – 5% (plus down payment) Primary Goal Lower monthly payment More space or better location Market Condition Best if current rate > 6.8% Best if you need more inventory Lifestyle Renovate current space Move-in ready