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Old 12-18-2008, 09:09 PM   #1
menschmaschine
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Default Time to refinance!

Just got a 4.875 rate on a 30-year fixed from Wells Fargo, locked in. I'm 3 years into a 10/1 ARM at a 5.875 rate and figured it's now or never. Who's with me!?

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Old 12-18-2008, 09:13 PM   #2
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Originally Posted by menschmaschine View Post
Just got a 4.875 rate on a 30-year fixed from Wells Fargo, locked in. I'm 3 years into a 10/1 ARM at a 5.875 rate and figured it's now or never. Who's with me!?
Doing the same here.

Consolidating our 1st and 2nd mortgages into a 3.5% (with points paid) rate that'll cut 15 years off our total payment if we plan right.
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Old 12-18-2008, 09:20 PM   #3
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Guess I haven't been paying attention. I'm at a 30yr fixed @ 5.875 currently. Wonder what a 15 might look like.

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Old 12-18-2008, 09:22 PM   #4
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Guess I haven't been paying attention. I'm at a 30yr fixed @ 5.875 currently. Wonder what a 15 might look like.
Wells Fargo told me today that 15 and 20 year rates are actually higher than 30 year rates right now.
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Old 12-18-2008, 09:24 PM   #5
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nothing wrong with signing the 30 year at the better rate and paying like you would for a 15 or 20.

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Old 12-18-2008, 09:24 PM   #6
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Our will be a 30 year but, our credit is immaculate and we have some savings cash for points to drive the rate waay down. We can just afford to pay it off in 15 rather than 30 if the deal goes through as prepared.

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Old 12-18-2008, 09:25 PM   #7
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Yes, I'm looking at 4.625 or 4.75 for 30 yr. 15 yr rates are not better at this time it seems..... plus with the economy, better to have that smaller payment now in case the layoff boogieman comes to town.

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Old 12-18-2008, 10:36 PM   #8
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Hard to refinance a $0.00 balance. Having a paid-off house is a very good feeling right now.

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Old 12-18-2008, 10:45 PM   #9
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nothing wrong with signing the 30 year at the better rate and paying like you would for a 15 or 20.
Very true.

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Hard to refinance a $0.00 balance. Having a paid-off house is a very good feeling right now.
Damn you Dave! . Heck, I'm not done until 2032 with my current loan. Time to work the numbers I guess.
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Old 12-18-2008, 10:50 PM   #10
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own a house in oakland? ha! i can't afford a paper box around here. at least i still have rent control working to my advantage...i just cannot ever move! ahh!!

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