Question by ricko: How low can we expect interest rates to go? I am thinking about refinancing within the next 6 – 12 mos.?
I currently have a mortgage loan at 5.75% opened in 2003 for 165,000 and 30 yrs. I also would like to obtain maybe 25 – 30k when I do refinance so I am hoping rates will near the 4.75% range or lower.
I wonder if rates will go lower this year…
Any hunches?
Best answer:
Answer by sassy2
No. Now is when they start climbing since this becomes the busy season for home buying.
Add your own answer in the comments!
I would have to say we are at a low point. For them to go even lower, something drastic would have to happen…refinancing with anything in the fours is a great rate. Do it now before its too late. Just be sure to shop around. Check out bankrate.com to compare rates.
Mortgage refinance of a property is quite hassle free and usually a good idea to save money.Borrowers who find it difficult to meet their repayment obligations due to financial constraints opt for refinancing their property.
http://www.worldbestloans.com/Mortgage%20Loan.htm
There are various repayment options that can be chosen by borrowers and lenders mutually. Bi-weekly payments are one of the most popular payment plans among borrowers.Bi-weekly payments let borrowers pay off their mortgage refinance faster.