Refi rates

[jaime1982]

What kind of rates are yall seeing? I just applied for a refi and got 2.375%. I had <14 years left on the house but refid for for 15 again. Plan to pay extra and get it knocked out in 10-12 years.

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[Austin]

What is your current rate. Was your original a 15 or a 30? What are the fees? Sounds like a great rate but may or may not be worth it.

[marlin man]

That's not a bad rate. Rates may keep falling. The sucky thing about a refi is it starts the interest all over again, of course you pay the majority of the interest at the front end and principal at the end of the loan. In other words, the banks always wins. On your good faith estimate also look at the APR%, thats what your actual rate is. Lots of brokers try to add 1% origination and other "junk" fees. These kinds of fee's will raise the apr unless you pay them out of pocket.
Something else to think about is putting your extra money in a retirement fund since your mortgage interest rate is so low. You could actually make a super return especially with all the blood on the street with how hard the market has been hit recently. Also, dollar cost average it in as the bloodbath is not over yet.
Good luck

[Southbound 85]

Just locked up 2.75 on refi.

[TeamAmerica]

Agree, it would be good to know APR. I'm considering cashing out a bunch of home equity and investing it carefully in the market (while still keeping my monthly payment the same). the spread is more convincing than it's been in a while. I'm not even factoring in any rebound from the current market today, just assuming 11% return over 30 years.

[jaime1982]

What is your current rate. Was your original a 15 or a 30? What are the fees? Sounds like a great rate but may or may not be worth it.

Current rate was a 4%, we refi last year but chase bought the co I was with. I absolutely hate them. We bought the house on a 30 originally.

We had 14 years left but the rate change and getting away from chase is worth it. I'll pay it early and get it done in 12 years now. Here is my APR.

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[Jerry Worley]

What kind of rates are yall seeing? I just applied for a refi and got 2.375%. I had <14 years left on the house but refid for for 15 again. Plan to pay extra and get it knocked out in 10-12 years.

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Do you mind sharing your mortgage broker info. I was quoted 2.75 yesterday. I would like to have a comparison.

[WItoTX]

Couldn't get below 3.25 without paying points. We have less than 15 years left, and plan to have it paid off in less than 4. So banks don't like not collecting interest from us.

[bbqfan5909]

Feds are willing to take it almost to zero, we shall see how this goes.

[Aggiehunter08]

I'm waiting to see if they will go down even more.

[jaime1982]

I'm waiting to see if they will go down even more.

I was thinking of this too but I actually want to get this done asap so we can move on.

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[Austin]

I will be supprised if they go much lower regardless of what the fed does. At some point the market will say if it’s less than x we don’t want it and I think we are close to those numbers.

[Fishndude]

3.185 here. I pulled the trigger a bit early but feel good about it.

[bmac]

I have a 3.375 from 3.5 yrs ago on a 30, so rates would have to drop a bit more to make it worth it. 2-2.25% or lower would be awesome.


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[bloodstick]

Just got started with my first home my wife and I are buying together. 3.375%, but this was before the fall in the market. We are not “locked” in yet, but should be ready in another week or two before closing


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