12-17-2008, 03:41 PM | #1 |
Yuppie Prick
Join Date: Nov 2008
Location: Austin, TX
Posts: 223
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4.75% interest rates?
Anyone looking at doing a refinance?
Rates keep dropping like a rock.... |
12-17-2008, 03:42 PM | #2 |
Like Gixxxxer But Not
Join Date: Jul 2008
Location: Dirty Jersey
Moto: 2008 ZX6R
Posts: 4,891
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Our Rate was 5.5 Yesterday...First time buyers though.
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12-17-2008, 03:44 PM | #3 |
AMA Supersport
Join Date: Nov 2008
Location: Richmond, Tx
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where are you hearing that #?
5.75, 5-6 mos ago.
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12-17-2008, 03:45 PM | #4 |
Like Gixxxxer But Not
Join Date: Jul 2008
Location: Dirty Jersey
Moto: 2008 ZX6R
Posts: 4,891
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Just google it...rates are around 5 Flat right now...Like I said we got 5.5 Yesaterday...but we didnt Lock in yet
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12-17-2008, 03:49 PM | #5 |
AMA Supersport
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Location: Richmond, Tx
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what cost are associated w/ a refi ?
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12-17-2008, 03:53 PM | #6 |
Yuppie Prick
Join Date: Nov 2008
Location: Austin, TX
Posts: 223
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(made some ninja edits)
https://www.wellsfargo.com/mortgage/rates?dm=DMIWFHPRAT 4.75% at wells fargo. Refinance costs are like 1.5% of the loan amount. For my loan at 5.5%->4.75% its showing a payoff in 2.3 years. If the loan drifts to 4.5% it will be 1.8 years. [this calculation does not take into account the savings associated with deducting the points at closing] Last edited by ducati_atx; 12-17-2008 at 04:01 PM.. |
12-17-2008, 03:55 PM | #7 |
Moto GP Star
Join Date: Feb 2008
Posts: 12,156
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Not worth it, I'm at 5.375% fixed. It would have to go below 4% to be worthwhile.
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12-17-2008, 04:11 PM | #8 | |
Hold mah beer!
Join Date: Feb 2008
Location: 80 Miles South of Moto Heaven
Moto: 08 R1200GS
Posts: 23,268
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Would it be worth it to pay a 1% origination fee to drop it from 5.25 to 4.75 or 5.25 to 5 for free?
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12-17-2008, 04:16 PM | #9 |
Yuppie Prick
Join Date: Nov 2008
Location: Austin, TX
Posts: 223
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12-17-2008, 04:20 PM | #10 |
AMA Supersport
Join Date: Nov 2008
Location: Richmond, Tx
Moto: '10 Tuono Factory
Posts: 4,569
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payment alone would drop only $100 for me.
but then again, i would recoup my refi fee's within 3 yrs, and i could keep paying the extra $100 and drop my length or drop to a 20 yr note and keep about the same as i'm currently.
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