30 Year Fixed at 4.875% (APR 5.156%)
Update: This rate is no longer available. It was only available on the date of this post. Mortgage rates change constantly (sometimes 3-5 times per day).
Based on a loan amount of $400,000 for a "full doc" purchase or rate/term refinance with a 680 credit score or better and a 45 day lock with an 80% loan to value with a reserve account.
4.875% is priced at 1.375% origination/discount (APR 5.156%).
5.000% is priced at a 0.750% origination/discount (APR 5.227%).
Mortgage bonds are posed for a correction (these rates may not last). You can keep sitting on the fence if you want to...or you can contact your Mortgage Professional today.
Wow. With all the costs and everything of refinancing, how much lower do rates need to be than what you currently have, before it makes sense to think about refinancing? I am just curious, as we have a 30yr fixed loan that is in the low 5s.
Posted by: Sandy | Wednesday, January 23, 2008 at 11:11 AM
Sandy, I'm sorry I missed your comment! It's a great question that's worthy of a post of it's own.
Posted by: Rhonda Porter | Friday, January 25, 2008 at 10:58 PM