Are mortgage re-fi rates so low?

2 Responses to “Are mortgage re-fi rates so low?”

1. glenn says:

   November 19, 2010 at 1:42 am

   Trying to time this sort of thing is a bad idea- because so much depends on luck. If you want to do this then just do it and don’t worry if a 1/10 of a percent could have been better a day earlier.

   Also if you shop around you may pick the lowest rate from a scam. You will likely get a very good rate from your current lender and very low costs.
2. iam5foot2 says:

   November 19, 2010 at 2:14 am

   my bank is offering a program – HARP though there are qualification rules – which i really have no idea what they are (not sure the bank knows either) they just plugged my numbers into the computer and it turns out i am eligible BTW i have at current values 40% equity

   the cool thing – express re fi – meaning no docs, no fees, no points only out of pocket is a notary to confirm you signed it…

   last i heard they were offering it at 5% but the interest rate dropped on friday… so i speculate it will be below 5 maybe 4.875 or fingers crossed even better maybe 4.625

   worth looking into it – they were offering a 30year or 15 year… my plan take the 30 year (my mtg is only 1 year old – but have prepaid on principal 5 years worth… and fully intend to keep making at minimum my current monthly

   though i will say they did try to talk me into a 5 year arm with all the associated costs for me about 2k

   i am going to do it on monday

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