Interest rates really ARE insanely low now. We had been quoted 2.99% a month ago, which we thought was fantastic. Yesterday we signed all the closing docs and our final rate is 2.26%! That cuts our monthly payment by almost 10%!
Interest rates really ARE insanely low now. We had been quoted 2.99% a month ago, which we thought was fantastic. Yesterday we signed all the closing docs and our final rate is 2.26%! That cuts our monthly payment by almost 10%!
I can't imagine that we will ever refinance. Even at 2.99 our total interest for 30 years was only going to be 45% of the loan cost if we just paid the monthly minimum. At 2.226% it will be significantly less than that. And we intend to pay down the principal to zero over the course of the next ten years. The loan cost is almost laughably small.
There are currently 1 users browsing this thread. (0 members and 1 guests)