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Refinancing

 
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dystopia
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Refinancing
« on: December 14, 2008, 02:43:44 PM »

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 »

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
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Re: Refinancing
« Reply #2 on: December 14, 2008, 02:59:34 PM »

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  Sad

Some back off buying, waiting for rates to fall
http://www.sfgate.com/cgi...2008/12/14/REHL14K54Q.DTL
« Last Edit: December 14, 2008, 03:02:05 PM by dystopia » Logged Return to Top
gleek
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Re: Refinancing
« Reply #3 on: December 14, 2008, 03:19:50 PM »

Oh, moving down to 4.5%. People are waiting in order to lock in a better rate.
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Re: Refinancing
« Reply #4 on: December 14, 2008, 10:19:33 PM »

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.  Cool
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Re: Refinancing
« Reply #5 on: December 15, 2008, 12:42:46 PM »

Waiting
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stroh
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Re: Refinancing
« Reply #6 on: December 15, 2008, 12:58:05 PM »

Me:  Hello, I'd like to refinance.

Mortgage dude:   Spit Take Laughing Rolling

Me:   Punch Balls
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dystopia
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Re: Refinancing
« Reply #7 on: February 23, 2009, 02:29:17 PM »

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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Re: Refinancing
« Reply #8 on: February 23, 2009, 03:53:43 PM »

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.  Cool

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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Re: Refinancing
« Reply #9 on: February 23, 2009, 04:46:01 PM »

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 »

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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Re: Refinancing
« Reply #11 on: February 23, 2009, 07:57:11 PM »

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.  Cool

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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Re: Refinancing
« Reply #12 on: February 24, 2009, 07:38:22 AM »

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 »

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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dystopia
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Re: Refinancing
« Reply #14 on: February 24, 2009, 12:03:58 PM »

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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