All time low mortgage rates! Thinking about Refinancing
I just caught the headline in the paper. Checked it out at Bankrate Clicked on some of the advertisers & wouldn't you belive that 9 out of 10 don't publish the same rate on their web page [img]/forums/images/icons/mad.gif[/img] [img]/forums/images/icons/mad.gif[/img]
In any case, looks like it would be advantagous for us to refi. We are currently 11 months into a 30 year fixed at 6.5% (we didn't pay any points)
Lowest published are 5.25% with 2.5 points, but this doesn't seem to exist. Best verified rate so far is 5.375 with 2.5 points.
I keep hearing "don't pay points" But why [img]/forums/images/icons/confused.gif[/img] The monthly savings in a lower mortgage payment will pay the points & closing costs (est $3K) off in less than 4 years!