Mortgage Rates - Refinance?
I live in Virginia and recently purchased a home. This is my second mortgage. I had no idea how much mortgage rates had increased. I am paying 6. 75 as compared to 6. 125. Are mortgage rates expected to climb or is it possible for me to refinance and get back to less than 6. 5? My credit is still the same and both mortgages were 30 years fixed interest- not sure if I understand your question. If you are paying 6. 75% on the second you did well and if you are 6. 125 on the first you are doing well for a 30 yr fixed - leave it alone. I am licensed in Virginia so if you need more help contact me and I will review this with you. esimortgage.net
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- It is hard to say the rates have risen siginficantly lately, if they follow the same trend as last year the rates will go down in the beginning fall. This is exactly what happened last year the rates went up at the beginning of the summer. You may want to look at getting a good deal now and not refinance later on. If you are going to be in the house for over 5 years then you may want to look at buying the rate down it may be cheaper then actually refinancing in a year for. 25% where you will not save any money because of the cost to refinance
- reputable theory is that in order to break even on a re - fi, you need to be able to reduce the rate by 2 points. This is due to the length of time it takes to recoup the fees involved with a re - fi. And do not fall for the scam of getting a lower interest rate but having to pay points up front. You need to look at all the fees and charges and figure out if it makes sense to spend $2500 to refinance, get a lower monthly payment of say $20 a month. It would take about 8. 5 years just to break even. Be happy at 6. 75 that is a pretty good rate
- Rates are rising. Today the 30 - yr fixed is at 6. 625% on loans of $100K. For the record, your current rate is too high. I believe your loan officer made a lot of $ on your deal. On May 1st the 30 - yr fixed was at 5. 875% - again for loans of $100K and more. That said, refinancing now would be foolish. Wait for rates to drop or refi into a shorter term 20 or 15 year fixed
- It's tough to say if rates are expected to climb, stabilize or drop. What I am doing for my clients is having them use the equity to buy down their interest rates for maximum savings via refinancing if they are just looking ot lower their interest rate. They are cutting the life of repayable interest DRASTICALLY and getting a fixed rate. If you have equity in your home, maybe you want to entertain this option. Talk to a mortgage broker or banker. I just bought down a few of my clients fixed rates under 6% fixed for 30 years. Good luck!
Knowledge Base
Who is the best mortgage refinance company?
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What's a good mortgage refinance rate right now?
looking at refinancing a home loan. i have over 25% equity in my home and an excellent credit score. currently paying 6. 5% on a 30 - yr fixed and i know i can do better. what rates are out there in the market right now? looking for fixed 15 (mortgage refinance rates)
Knowledge Base: Mortgage Refinance
how do i get the best mortgage refinance?
hey kevin, it may sound left field, but i'd go for an interest only mortgage. you can take the difference in payment and put it in a vehicle that's safe, liquid, and earning interest even a savings account. most do not do it because most do not understand the risk (best refinance mortgage)
best bank to refinance mortgage?
what would be the best bak of choice to refinance my mortgage?. that's a trick question. i would suggest you first ask your regular banking account manager. === if i was paying off a mortgage - and never missed a pymt - ? i'd go shopping for money. where. ? (mortgage refinance loans)
How can I get a High - LTV ration mortgage refinance loan?
i have a recently purchased condo in dc with a value that continues to tank with the economy. currently have 2 mortgages on it making the ltv somewhere in the neighborhood of 110 percent. looking to refinance i have relatively high income, excellent credit property value approximately $250, 000 and (mortgage refinance loans)
I am looking for the best mortgage company for a refinance. Two criteria, low interest rate and low fees. ?
does anyone have any suggestion? where to look, what to stay away from or tricks of the trade. made a poor decision on our present mortgage and do not want to do a repeat. am locked in on present note for 45 more days and then we want out. looking (mortgage refinance loans)
Can I refinance a mortgage with bad credit?
i have been in the house 8 years and have a rate of 7 for 30 years. i have bad credit and wonder if it would benefit me to refinance to a lower rate?. no. tom only a lender can tell you for sure. depends on what you mean by (home mortgage refinance loan)
Knowledge Base: Mortgage Refinance Rates
Mortgage Rates - Refinance?
i live in virginia and recently purchased a home. this is my second mortgage. i had no idea how much mortgage rates had increased. i am paying 6. 75 as compared to 6. 125. are mortgage rates expected to climb or is it possible for me to refinance and get (mortgage refinance rates)
Where can I find the lowest mortgage rates and refinance rates in the USA on the internet?
do you think the rates have hit bottom? we like to use a local mortgage broker but the last time they did not over us the lowest rate out there. we knew the lowest rate from bankrate.com so we got it. bankrate.com no longer lists the lowest rates in the (mortgage refinance rates)
I have a mortgage I want to refinance to get the new lower rates. Which bank should I go to?
which bank and what rates, terms can i get now? i have very good credit, never missed a payment. the rates the mortgage broker gave us 2 years ago were horrible, and we never pay off the principal. i want to pay off the principal with good rates. which bank (mortgage refinance rates)
mortgage / refinance?
based off of the most common outlook for the housing and financial markets, are mortgage and refinance rates going to decrease?. they are not directly related. you are talking about two different markets - housing and financial. and mortgage rates are actually rising right now as the housing market continues (mortgage refinance rates)
Are the interest rates the same between people who take a new mortgage and those who refinance?
i want to take advantage of the decline in intest rates by refinancing my mortgage. when i search online i find a lot of rates quoted for new loans but not much for refinancing. is it safe to ume the refinancing rates will be similar to the new buyer's rates (mortgage refinance rates)
