What is a “good rate” for a mortgage refinance?

Question by Capt Crasher: What is a “good rate” for a mortgage refinance?
I know, specifics have to be based on income, property, credit history, blah blah blah…
While articles & ads say “You could get 2.5%”, I figure reality is actually somewhat higher. But without 12 pages of paperwork nobody wants to give a legitimate range.

What would be considered “good”?
What would be “outrageously high”?

Best answer:

Answer by Flatpaw
The only way you’ll get 2.5% is like for one year of an adjustable rate. It will certainly go up a year later. The going rate on 30 year fixed loans right now is in the 4% range (4.5, 4.8, etc). If you can get that, awesome! If you can do a 15 year, they can be in the high 3% range, even better. If your credit is good, you can google any mortgage or bank website and see what their rates are without having to apply. Or try Lending Tree, they scout out offers for you and it worked well for me.

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