Quote:
Originally Posted by VisualEcho
But you'd agree that at the moment it's a great time to refinance, correct? I mean, it could still drop, but probably won't go more than .5 less?
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It's too difficult to say without knowing your current balance, current term, where you are in the term, current interest rate, product, and future plans to pay off the mortgage, how long you plan to live in it, etc. It's easy to say, "Yeah, it's a great time to refinance because rates are near historic lows."; however, if your current interest rate is 3.25% and you plan on moving to a new home in the next 18 months then I'd probably say it's not a great time to refinance. It all depends on your current situation and what you're trying to do.