Quote:
Originally Posted by goodhart
Isn't the entire reason of getting a low rate to save money monthly? Why else would you want a low rate? |
Read the rest of what I have been saying....
Yes, getting a lower monthly would be awesome. But in 1.5 years I HAVE to refinance no matter what as my 5 year balloon mortgage is up (30 year loan essentially that only lasts five years). So no matter what I have to get something then, so instead of waiting until rates are way higher I mind as well try to do something now.
By the way, I checked and I am at 5.75% right now. So yes, even 4% would be awesome.