The Time to Refinance is Now, Says Mortgage Broker Paul Hirschauer

According to Guaranteed Rate mortgage broker Paul Hirschauer, current mortgage rates provide a great opportunity for refinancing.

Many homeowners toy with the idea of eventually refinancing their mortgage, but are uncertain about when to do it. According to many mortgage experts, right now is an ideal time to consider refinancing. The reason for this is simple: Interest rates are currently very favorable. According to a recent article from USA Today, rates are near a historic low, and are not likely to go much lower; by the end of next year, however, they are expected to rise by roughly four percent. That gives borrowers a narrow window in which to take advantage of these rates. In a new statement to the press, Guaranteed Rate mortgage broker Paul Hirschauer stresses the urgency of refinancing.

“Refinancing your mortgage can often be a very smart thing to do, but only if current interest rates are significantly lower than what you’ve been paying,” says Hirschauer, in a press statement. “Rates need to be low enough that the difference offsets any closing costs you face in the refinancing process.”

While refinancing may not be the best decision for every homeowner, Hirschauer says the current outlook is so favorable that most homeowners should at least consider it. “There is nothing to lose by sitting down with your mortgage loan officer, running the numbers, and seeing what kind of advantage you might get by refinancing,” he affirms.

Hirschauer goes on to note that there are several reasons why borrowers might consider refinancing. One is that it might shave a few dollars off monthly payments, freeing up additional income for savings or simply for other recurring expenses.

In other cases, the lower rates achieved through refinancing might make it more feasible for borrowers to switch to a shorter mortgage term—effectively paying off their loan much sooner than they may have expected.

According to Hirschauer, even those who have refinanced over the past decade or two owe it to themselves to explore the possibility of doing it again. He cautions that borrowers should first get a few affairs in order. “Do a credit check first, and make sure there’s nothing you need to correct,” he advises. “Also gather all tax documentation you can, and be prepared to pay closing costs on the new loan. Beyond that, the big step you need to take is simply calling a mortgage broker to talk through the process.”

More information about Paul Hirschauer and his services can be found online at


Paul Hirschauer is a Senior Vice President of Mortgage Lending with Guaranteed Rate; based in Connecticut, Hirschauer is passionate about making his clients’ dreams of homeownership come true. He is one of the top 1 percent of loan originators in the country.

More information about Hirschauer and his services is available online at

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Company Name: Guaranteed Rate
Contact Person: Paul Hirschauer
Phone: 860-868-6060
Country: United States