Is now a good time to refinance my home loan?

Mar 6th, 2010
by admin.

Do you think the home interest rates will drop?
I currently have a 30 year home loan at 6.375%.
Should i refinance my home loan to a lower rate if possible?

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6 Comments

  1. golferwhoworks says:
    March 6, 2010 at 3:03 pm

    not worth the effort at this time. rates need to fall about 2% for you to recoup the cost in about 2 years time

  2. Zeus says:
    March 6, 2010 at 3:48 pm

    Also depends on your credit rating. Lenders are being super picky right now.

  3. S D says:
    March 6, 2010 at 3:53 pm

    I would wait at least 6 months rates are falling rapidly like the stock market. No sense in barely changing what you pay when a little time will save you thousands.

  4. Erie says:
    March 6, 2010 at 4:36 pm

    No. It’s hard to get approved.

  5. Wendy Jean says:
    March 6, 2010 at 4:45 pm

    Do you watch the news? No don’t refinance now, its not a good time.

  6. Biggie @ Arbor Mortgage says:
    March 6, 2010 at 5:35 pm

    Stay where you are ! That is a great rate! Unless you want to consolidate debt or you are in an ARM, don’t refinance.

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