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I heard on the news that the government was going to push for 4.5% Interest rates. I for one will try to refinance if that happens. Does anyone have anymore information on this?
I would love to switch to a 4.5% interest rate. Currently my rate is 6.35% for a 30-year fixed and when I look at the amortization schedule, the interest I pay every month is off the charts. It's like I am working for the bank, except instead of getting a paycheck from them, I pay them!!
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
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There's a silent group of people (who always remain silent) who are CLEANING up during this time. The short sellers and those who can hop on these rate adjustments are grining from cheek to cheek now...
Id be interested to see if it includes refi, dh and I are in the process and told him maybe we should wait to see if they do go under....we are also 6.5 30 year fixed...
at this time, if it happens I believe it is on purchases only. Also, in order to adjust your rate without doing a traditional refinance, you need to be behind several months on your payments.
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