Interest Rate and creditors

M

michaelb

compliant member
Not everything economic is doom and gloom.

For what it might be worth, re-finance loans are very low. The 30 year is around 4.75 to 5% and the twenty, fifteen, and ten are better than that. Might be a good time to save a few pennies through Re-Fi.

Mike
 
Rule of thumb on refinance is a couple points. I have 5.5% fixed, 30/yr, can't quite justify refinance costs for 1% gain.

In other news, I took the house off the market, and I'll be eligible for a reverse mortgage in about a year. No heirs, no reason to amass an estate. Besides which, my gun collection should pay off most any mortgage . . . :D
 
Yeah, our rate is 5% on a 15 year loan and we have been adding in extra principle every month. Should be paid off in 2011 if not sooner :dance: :D
 
A firearms topic not related to Benchrest ??? Where's the firearms part ??? :confused:
 
Not sure about other places, but here in California a point is huge and the break even point on our house is 19 months, I was able to save 1.5% off my rate. In fact we sign docs tonight.

In my opinion 1 point does justify the refi costs when you look at the potential interest savings. for us it is like $135K

ML
 
abintx,

You are right, sorry bout the lack of a firearms reference.

Might be a good time to Re-finance, save a few pennies and buy a firearm with those savings.
 
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