My Mortgage Rate Refinance
(Grand Rapids, Michigan, USA)
Ask Kate: My Mortgage Rate Refinance Hi Kate, Here is why I did not wait for 5%. I chose to refinance my home because I felt that it was the ideal thing to do because the mortgage interest rates were decreasing. I dropped down to 6% when I was over 8% the year prior.
But even though the new rate was more than 2% below, it still didn't drop as low as I expected or as low as I wanted it to. I thought for sure I'd see them under 5%.
As far as I know mortgage rates were a lot higher then the media reported which is why I expected my mortgage rate refinance to drop more.
I know I got a good deal because I refinanced with the same person I financed with in the first place. My credit was horrible so anything was a good deal. I am satisfied with how it all turned out and the only thing I would change about it would be the interest rate.
Kate Answers: My Mortgage Rate Refinance
Hi Joshua, Good advice to grab a solid mortgage rate refinance and not hold out for a predetermined rate like 5%. Your advice is described well by the old adage,
A bird in the hand is worth two in the bush!
I hope you'll come back to my website again in the future, Joshua. So bookmark Get-Your-Best-Mortgage-Rate.com
and visit often for up to date tips for buying a house, mortgage news and refinancing advice.
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