Mortgage rates

J

jjj

New member
Hi again everyone. What are the rates currently for 30 year fixed? I see there under 5 percent in some places. Have a summer home up in Wisconsin and may refi. Am at 5.25 fixed right now-30 year.
 
A

anonomoose

New member
Hard to rationalize refinancing for 1/4 percent, unless you are pulling equity (if you have any) and/or moving to a 15 year rate. Cost to make the move is prohibitive. If you load the loan on the backside with the costs (aka) no front end costs, then you will owe more money each time you do that, and that is money you can never get back and just makes your pay-off cost more when you finally do sell or go to pay it off. You need to wait until for 4.875 or better to bring the pay-back period down.
 
R

rakins800

Member
X2- keep it where its at now. just make one extra payment per year,and make sure it goes toward princapal only,not the interest.
I just closed a place 2 weeks ago,locked in 30 yr. fixed at 5.25%. IMHO good luck
 
P

pfeifest

Member
Just locked in 15 year fixed - 4.25% w/no points. Stevens Point, WI.

Don't quote me, but I believe the 30 year is at 4.875 with no points and 4.75 with 3/4 point.
 
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