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re: Refinance rates #2
Posted on 3/16/20 at 11:32 am to Tri City Tigers
Posted on 3/16/20 at 11:32 am to Tri City Tigers
They are raising rates to slow down the request for new refis. They don't have the workforce to process the requests quickly enough, so raising rates allows them to ramp up and process requests. I'm thinking that requests will slow down and we'll see rates start to creep back down at some point.
1
Posted on 3/16/20 at 11:37 am to TheFlyingDrogbas
I currently have 10yrs left on a 15yr @ 3.65%, and last yr we took out a heloc @ 5.75% for some renovations. I’ve asked two separate lenders in the past couple weeks and they’ve both come back with 3% for a 10yr note. It would save a significant amount of money, but I assumed we could get a lower rate.
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