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Started By
Message
Watching rates….when to refi, or holdout longer?
Posted on 9/9/25 at 7:52 am
Posted on 9/9/25 at 7:52 am
Took a relocation for a job and currently have a 1 year buydown from 6.625 to 5.625….the relocation program also had an interest differential payment for 3 years which is essentially 5k per year.
If I refi, I’m assuming I get a refund of some of the 1 year buy down? How low could we be in 3 years???
If I refi, I’m assuming I get a refund of some of the 1 year buy down? How low could we be in 3 years???
7
Posted on 9/9/25 at 7:59 am to dillpickleLSU
Whatever you do dont listen to Slacksters advice. It will cost you thousands of dollars
Posted on 9/9/25 at 8:03 am to SDVTiger
Irony
Posted on 9/9/25 at 8:09 am to cubsfan5150
Explain
Posted on 9/9/25 at 8:27 am to dillpickleLSU
quote:
Took a relocation for a job and currently have a 1 year buydown from 6.625 to 5.625….the relocation program also had an interest differential payment for 3 years which is essentially 5k per year. If I refi, I’m assuming I get a refund of some of the 1 year buy down? How low could we be in 3 years???
What are the rates right now? I’m at 6.3% currently but every time I google rates they are around 6.5% in the articles I’m seeing.
Posted on 9/9/25 at 8:33 am to dillpickleLSU
quote:
How low could we be in 3 years???
We could be anywhere from 0% to 350% in 3 years.
Trying to estimate rates that far out is like someone with poor muscle control trying to thread the eye of a needle at 100 yards, especially with the levels of uncertainty we've seen since COVID.
At some point within three years they may be lower (at least in the 5% or lower range). That's not a guarantee, just a guess based on the ongoing upward revisions in jobless numbers and how that should impact GDP and inflation going forward.
Posted on 9/9/25 at 10:22 am to dillpickleLSU
I’m glad I bought something I could afford, paid cash, and don’t have to deal with loan sharks and begging/borrowing money.
Posted on 9/9/25 at 5:52 pm to BabyTac
Long term rates going up.
Posted on 9/9/25 at 6:18 pm to BabyTac
I’m so glad you enlightened me with your logic and how smart you were to buy what you can afford. I guess you didn’t read the situation that I moved as part of a job relo. I can afford my house, it’s the only bill I have, I just don’t love the rate
Posted on 9/9/25 at 10:39 pm to dillpickleLSU
I bought a house I could afford and 2.75% interest rate
Posted on 9/10/25 at 4:46 am to Craft
:smh:
Posted on 9/10/25 at 4:48 am to BabyTac
When did you purchase your home?
Posted on 9/10/25 at 6:44 am to dillpickleLSU
Good rule of thumb....refinance when you can improve interest rate by 1.25%, 1.5% of course is better.
BTW, you probably already know this, but on a 30 year note, if you make 1 extra principle payment every year, you'll cut 7 years off the note.
BTW, you probably already know this, but on a 30 year note, if you make 1 extra principle payment every year, you'll cut 7 years off the note.
Posted on 9/10/25 at 7:13 am to Victor R Franko
Yes my lender actually offers bi weekly payments which makes an additional
Payment per year..I plan on doing that as well as making another additional payment or 2
Payment per year..I plan on doing that as well as making another additional payment or 2
Posted on 9/10/25 at 7:26 am to dillpickleLSU
Just a general question how many homes have you owned
And whats the longest you have stayed in one loan for?
And whats the longest you have stayed in one loan for?
Posted on 9/10/25 at 9:25 am to SDVTiger
I’ve moved a lot for work so 6 homes, longest is 6 years but I don’t see a reason to not retire where I’m currently at…I was with my last company for 10 years and would have stayed however they froze pay, cut pensions and got very unstable
Posted on 9/10/25 at 10:06 am to dillpickleLSU
6% on the 30yrs is the rate this morning, banks and lenders have been pricing in the rate cut for a month. It's going to take a few more rate cuts for the rates to settle in. Unless your at over 7% you shouldnt look at refinancing for 6 months. The target floor on rates is 5-5.5% IMO. we get rates lower than that and house prices will go up again and that's what the market does'nt need to happen
Posted on 9/10/25 at 10:27 am to dillpickleLSU
quote:
I’ve moved a lot for work so 6 homes, longest is 6 years but I don’t see a reason to not retire
This maybe your final stop but this definitely proves the high % of ppl that never stay in a home loan longer than 7yrs
And why the 30yr fix is the greastest scam the bankers created
Posted on 9/10/25 at 10:28 am to dillpickleLSU
It sounds like the available rates aren't much better than the rate you have.
FWIW there's some question whether the Fed rate being lowered will result in subsequent lowered 15 or 30 year rates.
FWIW there's some question whether the Fed rate being lowered will result in subsequent lowered 15 or 30 year rates.
Posted on 9/10/25 at 10:44 am to molsusports
quote:
FWIW there's some question whether the Fed rate being lowered will result in subsequent lowered 15 or 30 year rates.
Absolutely. If you think Trump’s policies will spur economic growth and deficits will continue to grow, 10y+ rates likely have limited downside from here. Sub 3.5% 10y treasury rates would probably take a full blown recession imo.
This post was edited on 9/10/25 at 10:45 am
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