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I locked in at 6.6 % for a 30 year fix last summer.
Should we re-fi????
I think the rates in our area are 5.4% for a 30 year fix.
Can't find any under 5% anywhere...
Thanks
I locked in at 6.6 % for a 30 year fix last summer.
Should we re-fi????
I think the rates in our area are 5.4% for a 30 year fix.
Can't find any under 5% anywhere...
Thanks
It depends on many factors....
what is the amount of your note currently? Generally, refi's have a bigger impact for people w/larger mortgages...if your mortgage is say 100-150K or less, it would take a bigger interest rate reduction to make it worthwhile....
Sorry, maybe this is a dumb question but does the 30 year fixed for a new loan vary in each area? Shouldn't every area have banks that offer going 30 year fixed rate. I am getting ready to lock in the interest rate and first I hear it's below 5, now I hear it's above.....what is it today?
Locked in to re-fi last week @ 4.85 wiht NO points. And we had JUST recasted our primary mtg. after we closed (finally) on our previous home and got our money out to put towards the new one. This is a wonderful oppt. for re-fi homeowners like us.
What about a 30 year fixed new loan...any idea on what that is today
Your fixed rate interest loan will depend on how well qualified you are and what you are bringing to the table. The low numbers you see out there are for highly qualified people with enough of a down payment. Everybody doesn't have access to the lowest interest conventional loans. Just check with some lenders.
Your fixed rate interest loan will depend on how well qualified you are and what you are bringing to the table. The low numbers you see out there are for highly qualified people with enough of a down payment. Everybody doesn't have access to the lowest interest conventional loans. Just check with some lenders.
Ok, so if we are putting over 50 percent down and have a credit score of 740, we might get a lower rate on a conventional loan then
Sorry, maybe this is a dumb question but does the 30 year fixed for a new loan vary in each area? Shouldn't every area have banks that offer going 30 year fixed rate. I am getting ready to lock in the interest rate and first I hear it's below 5, now I hear it's above.....what is it today?
Not sure if this is the right answer, but if you look on bankrate.com, they have a mortgage map-- the rate appears to vary significantly by state. No idea why.
Also, there's a mortgage forum on City Data-- ask around there. Those guys seem to really know their stuff.
Not sure if this is the right answer, but if you look on bankrate.com, they have a mortgage map-- the rate appears to vary significantly by state. No idea why.
Also, there's a mortgage forum on City Data-- ask around there. Those guys seem to really know their stuff.
oh ok thanks. That chart on bankrate helped. I guess it's still higher than I thought it was.
what is the amount of your note currently? Generally, refi's have a bigger impact for people w/larger mortgages...if your mortgage is say 100-150K or less, it would take a bigger interest rate reduction to make it worthwhile....
Also, your credit score is a big factor...
300k and looking to stay there at least 10 years.
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