 Refinance RAtes (by Oregon Woodsmoke [ID]) Oct 29, 2020 9:52 AM
 Refinance RAtes (by S i d [MO]) Oct 29, 2020 10:39 AM
Refinance RAtes (by Jim in O C [CA]) Oct 29, 2020 11:14 AM
Refinance RAtes (by Coplin [CA]) Oct 29, 2020 12:20 PM
Refinance RAtes (by Ray-N-Pa [PA]) Oct 29, 2020 12:40 PM
Refinance RAtes (by Oregon Woodsmoke [ID]) Posted on: Oct 29, 2020 9:52 AM
Message:
I notice that the mortgage rates to refinance are 0.75% - 1.0% higher than new mortgage money. I'd appreciate it if anyone can explain the bank's justification for that.
It's not like they don't already make a packet with all the fees to refinance, so it can't be the inconvenience factor. --76.178.xx.xx |
Refinance RAtes (by S i d [MO]) Posted on: Oct 29, 2020 10:39 AM
Message:
The same is often true on LTVs.... re-fi usually tops out at 75% whereas new purchase may allow up to 80%.
Ask your lender to match the new purchase rate. I've refi'd at the same rate as a new purchase several times. Shop around. --107.216.xxx.xxx |
Refinance RAtes (by Jim in O C [CA]) Posted on: Oct 29, 2020 11:14 AM
Message:
The re-fi companies are hungry. Once you inquire expect daily calls. I just got 2.5% and total fees of $3000 for $200,000. I could have got 2.25% for 1.5 points. This is for a 15 year fixed which I plan on paying off in 10 years. --89.45.xx.xxx |
Refinance RAtes (by Coplin [CA]) Posted on: Oct 29, 2020 12:20 PM
Message:
Just closed a refi from hell for 141500 30yr @3.375% out the door cost 2752 (section A+B+C+D+E). Break even time 5 months.
--47.157.xxx.xxx |
Refinance RAtes (by Ray-N-Pa [PA]) Posted on: Oct 29, 2020 12:40 PM
Message:
Oregon,
Tells me that the funnel of folks in the pool for refi's is so much larger than those buying out there. That stands to reason if we would ask ourselves what pool of money is greater: all existing debt or all the new debt.
What I wonder about is what happens when demand on either side dries up. It wouldn't take too much for anyone to start charging a 3% tax on refis to make the demand go down.
--24.101.xxx.xx |
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