Are you willing to gamble in this market?

People that did that are losing their homes right now.

You can get a 5% or lower rate you need to lock in NOW.

PS: If you are not going to be in the property at least 4 more years, you would see no financial benefit in refinancing. This is b/c the closing costs would offset any savings…refinancing isn’t free.

6.25% is really high. Even for a no cost refin. Your rate today should be around 5.5% to 5.75% with no cost.

Talk with a couple of lenders to see where your local rates are.

I’m refin with NO cost for 15 years at 4.75%.

This week I settled 3 properties (purchase), all 30 year fixed with rates from 5% to 5.75%.

I thought the prime rate is now pretty darn close to 0%.
I heard on tv this might not last long.
Watch CNN every day - the second news comes out about increasing rates - go house hunting.
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