Question by melissa b: What are the rates for a 15 year refinance mortrgage?
I currently have 5.5 % 30 year mortgage. I want to check to consider if it makes sense to refinance for a 15 yr. mortgage.
Any feedback is appreciated.
Answer by ironchefkurt
12.8% on average
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Go to http://www.bankrate.com. they will give you the real low down on if it is worth it or not. It really depends on how long you have had the 5.5% loan and how much the APR is and other factors. I don’t think 5.5% is beatable right now even at a 15 yr mortgage. You can easily just pay an extra 100 a month and probably bring your current loan down by seven to ten years.