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re: Still on the Learning Curve - 30 year mortgage better than 15 year mortgage?
Posted on 6/16/15 at 3:02 pm to SDVTiger
Posted on 6/16/15 at 3:02 pm to SDVTiger
quote:The fact that we've had sub 5 rates for several years now, will quickly erode whatever "fact" you've think you've found and will provide very little incentive for those looking to refinance in the next 10-15 years, chief.
Great if you make it past 8yrs
Thats my point. No one does
Call bull shite all you want but those are facts 97% do it every 5-7yrs captain
quote:It wasn't an easy thing to do.
You obviously didnt follow along
Declaring the 30 year fixed a "scam" in this current environment is just silly.
1
Posted on 6/16/15 at 3:12 pm to LSUAfro
Everyone is refinancing out of the 3.25% into 4.25-4.5% to get the equity that just came back. Just stuck on that hamster wheel
They will refi again at 5.5 or 6% when they need even more money or when life changes which it always does
Or they thought they were smart by getting a HELOC at a low rate and will combine that when prime increases drastically into a 30yr at whatever rate
Nothing stops whether rates increase or not
Its a scam that all Banks sit back and chuckle about im sorry if you cant understand that
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