[net.invest] 3% Rule

sjc@lambda.UUCP (Sandy J. Cifrodelli) (03/06/86)

I just started to read this newsgroup.
Could someone summarized the 3% rule argument?
It seems to me that it would take more than a 3% difference in interest rates
to breakeven in three years, especially with the high closing
costs that are apparent today.
Also what closing costs that were paid on the initial purchase
would not have to paid with refinancing?

Thanks
Sandy