My New Blog

Check my rate report for daily updates ... has not been pretty lately.  Became somewhat spoiled with 4.50% 30 year fixed "conforming" for "No Points and No Fees."  Currently for that 4.50% rate it would COST at least 2 "points" (2% of the loan amount) PLUS closing costs ($3000-$3500) ...

By the same token 5.00-5.125% 30 year fixed conforming can still be done at "No Points and No Fees" and if your rate is in the mid 5's or higher, refinancing is still an extremely winning proposition ...

Will the rates go back down?  I'm certainly convinced they will.  And if you've considered refinancing, NOW is a good time to get your paperwork in, get approved and be in a position to lock in a great rate on more favorable terms.

Happy Holidays!