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re: Current Mortgage Rates
Posted on 6/3/20 at 10:42 am to LSUDbrous90
Posted on 6/3/20 at 10:42 am to LSUDbrous90
there isnt one that i konw of. For most people owing 200k plus you need to move your rate down 1% if you are staying in the same term. when going from 30 to 15ry it makes sense when your budget lets you. I find that alot of people over think a refinance. every situation is different.
2
Posted on 6/3/20 at 12:00 pm to hawkeye007
quote:
I find that alot of people over think a refinance. every situation is different
That seems like a contradictory statement. If every situation is different wouldn't it take people really looking into their personal situation to determine if refinancing is "worth it" based on their goals. If every situation was the same you could apply an easy rule of thumb i.e. refinance for a 1% drop.
There are plenty of factors that determine if refinancing is "worth it." I personally think most people simplify their evaluation too much and sometimes don't fully understand the overall impact of their decision to refinance or their goals are very simple.
Posted on 6/4/20 at 9:07 pm to hawkeye007
What’s the 20 year rate for an investment property?
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