Refinancing means paying off old loans with new ones. The new ones most often cost less in interest.
In Leander. The district’s money advisor said refinancing from 2015 to 2021 saved $629.9 million in total. In today’s dollars, that is $225.5 million.1 The report does not say if the district’s own cash was taken out first.1
Everyday comparison. It is like refinancing a house when rates drop.
Related terms: bond, growing loan, interest. Read more: refinancing.