dystopia
Amazing Technicolor Dreamcoat From: Silicon Valley
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Refinancing
« on: December 14, 2008, 02:43:44 PM » |
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Anyone refinance their mortgage recently or thinking about it?
I called my mortgage provider last week to get things rolling, but changed my mind after reading reports of rates heading to 4.5%.
If you're thinking about it, is there a target rate you're waiting for?
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gleek
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Re: Refinancing
« Reply #1 on: December 14, 2008, 02:55:42 PM » |
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Anyone refinance their mortgage recently or thinking about it?
I called my mortgage provider last week to get things rolling, but changed my mind after reading reports of rates heading to 4.5%.
If you're thinking about it, is there a target rate you're waiting for?
It's moving UP to 4.5%? Crap, I have a 15-year conventional at 4.65% and thought that was a good rate. |
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dystopia
Amazing Technicolor Dreamcoat From: Silicon Valley
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Re: Refinancing
« Reply #2 on: December 14, 2008, 02:59:34 PM » |
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Anyone refinance their mortgage recently or thinking about it?
I called my mortgage provider last week to get things rolling, but changed my mind after reading reports of rates heading to 4.5%.
If you're thinking about it, is there a target rate you're waiting for?
It's moving UP to 4.5%? Crap, I have a 15-year conventional at 4.65% and thought that was a good rate. <---- 30 year  Some back off buying, waiting for rates to fallhttp://www.sfgate.com/cgi...2008/12/14/REHL14K54Q.DTL |
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« Last Edit: December 14, 2008, 03:02:05 PM by dystopia »
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gleek
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Re: Refinancing
« Reply #3 on: December 14, 2008, 03:19:50 PM » |
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Oh, moving down to 4.5%. People are waiting in order to lock in a better rate.
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Woman, open the door, don't let it sting. I wanna breathe that fire again.
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Fuzzy
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Re: Refinancing
« Reply #4 on: December 14, 2008, 10:19:33 PM » |
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I'd have to run the numbers but 4.5 gets my attention. We refinanced 5 years into our 30 year and moved into a 20 year at 5.375. Knocked ~5 years off the loan and dropped the monthly by about $40.  |
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"You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose."
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stegerman
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Re: Refinancing
« Reply #5 on: December 15, 2008, 12:42:46 PM » |
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Waiting
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stroh
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Re: Refinancing
« Reply #6 on: December 15, 2008, 12:58:05 PM » |
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Me: Hello, I'd like to refinance. Mortgage dude:    Me:  |
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dystopia
Amazing Technicolor Dreamcoat From: Silicon Valley
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Re: Refinancing
« Reply #7 on: February 23, 2009, 02:29:17 PM » |
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I finally broke down and pulled the trigger today. 30 year fixed 5.053% apr.
No real reason for picking today except that I've got too many distractions right now and don't have time to follow interest rate trends.
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hobbit
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Re: Refinancing
« Reply #8 on: February 23, 2009, 03:53:43 PM » |
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I'd have to run the numbers but 4.5 gets my attention. We refinanced 5 years into our 30 year and moved into a 20 year at 5.375. Knocked ~5 years off the loan and dropped the monthly by about $40. Ditto (same rate and all), 'cept I went to a 15 year. I haven't ran any math yet, but wouldn't it have to get below 4.5% at our current rate to really be worth it? |
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Spartan
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Re: Refinancing
« Reply #9 on: February 23, 2009, 04:46:01 PM » |
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What kind of closing costs are involved w/ refinancing now?
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dystopia
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Re: Refinancing
« Reply #10 on: February 23, 2009, 05:28:11 PM » |
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What kind of closing costs are involved w/ refinancing now?
I have no idea what they typically are, but my closings costs were around $3300. (no escrow, non-conforming, alt-doc loan) |
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Fuzzy
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Re: Refinancing
« Reply #11 on: February 23, 2009, 07:57:11 PM » |
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I'd have to run the numbers but 4.5 gets my attention. We refinanced 5 years into our 30 year and moved into a 20 year at 5.375. Knocked ~5 years off the loan and dropped the monthly by about $40. Ditto (same rate and all), 'cept I went to a 15 year. I haven't ran any math yet, but wouldn't it have to get below 4.5% at our current rate to really be worth it? Yeah, of course depending on closing costs, points, etc. |
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"You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose."
From Oh the Places You'll Go, by Dr. Seuss (Theodor Geisel)
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Walfredo
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Re: Refinancing
« Reply #12 on: February 24, 2009, 07:38:22 AM » |
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I'm keeping my eye on them and will seriously look into in the coming months. My mortgage is from 2005 so it is 5.75% fixed right now. If I could get 4.5% along with consolidating the equity loan into that, I'll do it.
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gleek
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Re: Refinancing
« Reply #13 on: February 24, 2009, 11:22:31 AM » |
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From about 1997 to 2002, we refinanced any time the rate dropped .375 percent or more from the current rate of our mortgage. We refinanced 4 times and never paid a dime for points or closing costs.
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Woman, open the door, don't let it sting. I wanna breathe that fire again.
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dystopia
Amazing Technicolor Dreamcoat From: Silicon Valley
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Re: Refinancing
« Reply #14 on: February 24, 2009, 12:03:58 PM » |
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From about 1997 to 2002, we refinanced any time the rate dropped .375 percent or more from the current rate of our mortgage. We refinanced 4 times and never paid a dime for points or closing costs.
How do you refinance without closing costs? |
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