Quote:
Originally Posted by Clark_Kent
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.
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BAL: $114,800
PMT: $1,180
YRS LEFT: 13
RATE: 3.375%
APRSL: $250K
Probably live in it for at least 20 years, then buy a new home and rent this one out. Basically trying to pay it off as fast as possible without going overboard on the payment.
I was hoping to get a 10 year note at 2.75% to 2.95%.