It would make no sense to refi at 2%, but it's a no brainer at 5%. What's the

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Sep 5, 2019
5:16:28pm

Coach's Dad All-American

It would make no sense to refi at 2%, but it's a no brainer at 5%. What's the

rate where that decision switches.

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Coach's Dad

Bio page: Coach's Dad
Joined: Jul 29, 2003
Last login: Jun 8, 2024
Total posts: 17,398 (425 FO)

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Messages

Author

Time

POLL: At today's 30 year mortgage rates (non jumbo), What's the lowest rate you should refinance today?

Cougarclaw

9/5/19 5:03pm

Depends on my current rate.

Cougarrr

9/5/19 5:04pm

if your current rate was any of the poll options, which is the lowest one

Cougarclaw

9/5/19 5:07pm

I think you mean what is the highest rate, not lowest

Hinta

9/5/19 5:07pm

I think he means the lowest rate at which you would refi.

Coach's Dad

9/5/19 5:13pm

I have no idea what he’s trying to ask.

kotacoug

9/5/19 5:15pm

It would make no sense to refi at 2%, but it's a no brainer at 5%. What's the

Coach's Dad

9/5/19 5:16pm

Depends on from what rate TO what rate. Need two values

kotacoug

9/5/19 5:18pm

The TO rate is the market rate (which he didn't give) and the FROM rate is the

Coach's Dad

9/5/19 5:24pm

Depends on how long a person is going to keep the house/loan

9/5/19 6:01pm

how about this. If you had a house with each of the polled mortgage rates

Cougarclaw

9/5/19 6:25pm

I just got a 15 year fixed at 2.99% today. Now, that doesn't answer your

9/5/19 5:15pm

Where did you go for that and what were your associated fees?

CougaRR4L

9/5/19 5:35pm

DL evans bank in Idaho Falls

9/5/19 5:38pm

I got a 10 year a few years back at 2.87%... 0 associated fees or closing costs

9/5/19 5:58pm

that's so fricking awesome. This will be my first 15 year loan. I'm excited

9/5/19 6:03pm

Exactly. I live in Idaho Falls as well, I went through ICCU. For 15’s they look

9/5/19 6:18pm

Actually, they are quoting 2.875, but fees make a big difference. They are 3%

9/5/19 6:20pm

they waive all the closing costs? kinda crazy.

9/5/19 6:23pm

Yes, but only on 12 years or less IIRC. It’s called their freedom loan.

9/5/19 6:32pm

I was looking for a builder a few months ago. You guys are too busy.

9/5/19 9:32pm

missing variables are months until next move and cost to refinance

PaxDog

9/5/19 5:15pm

Are you essentially asking what interest rate reduction would make you want to immediately refinance?

slappy

9/5/19 5:16pm

yes.

Cougarclaw

9/5/19 6:27pm

Today's rates

9/5/19 5:48pm

Highest. I'm a few years from being paid off. The fees get to be too much when

fbguru

9/5/19 6:50pm

Closing costs are too high on a smaller loan

9/5/19 7:55pm

Yep. 20 years left on the loan. 2 years left on the payment schedule

fbguru

9/5/19 8:11pm

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