I'm currently paying 5.25% on my 30yr, and spoke with a broker this morning and I can get it down to 3.875%. Any hope we see lower rates in the next few weeks? She is telling me no, and I've worked with her previously (and is a friend of the family), but wanted to do my due dilligence. I'm not in a position that I have to refinance, but if it's going to save me a substantial amount of money I'm going to do it.
TJG210 LSU Fan New Orleans Member since Aug 2006 23018 posts
re: Refinancing my mortgage - To lock in or to not lock in.......(Posted by TJG210 on 5/20/13 at 2:51 pm to JPLSU1981)
quote: The federal funds rate can not go any lower than 0
Understood, but it also can fluctuate based on other things such as what traders on Wall St. are buying. When I was on the phone with the broker I had her look up a 20yr and it was more expensive than the 30.