Comments on: Time to refinance? How low can mortgage rates go? http://blogs.reuters.com/reuters-wealth/2011/08/12/time-to-refinance-how-low-can-mortgage-rates-go/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: OracleOfMumbai http://blogs.reuters.com/reuters-wealth/2011/08/12/time-to-refinance-how-low-can-mortgage-rates-go/comment-page-1/#comment-7622 Sun, 14 Aug 2011 21:23:46 +0000 http://blogs.reuters.com/reuters-money/?p=18227#comment-7622 I refi’d 2 years ago. Thought 4.375 for 30 year paper was ridiculous considering real inflation – even paid to buy it down a point from then current rates because I thought you’d have to be idiotic to put money in bonds for 30% years at those rates (but plenty of morons in the world apparently). Now considering 15 year with ~3.25 paper – pay more per month, but less than I was 2 years ago, while cutting term in half (and saving hundreds of thousands in interest).

For people who save their pennies, are responsible with their money, this credit debacle has been a boon. Wife and I will save several hundred thousand in interest over the life of our mortgage – that’s a huge real world tax cut that nobody (Tea Party nitwits) ever talks about.

That said, why do I have to pay 3.5% when banks are given money for nothing? Cut out the middle man and let the Fed lend directly to consumers – surely on a $500K loan for people with excellent credit, you can make plenty of money to cover costs by charging a tiny fee and putting the WS banksters on the curb where they belong…

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By: bobbymacReuters http://blogs.reuters.com/reuters-wealth/2011/08/12/time-to-refinance-how-low-can-mortgage-rates-go/comment-page-1/#comment-7585 Sat, 13 Aug 2011 15:13:50 +0000 http://blogs.reuters.com/reuters-money/?p=18227#comment-7585 It is quite good to see all this. Some find it obvious. For me, it’s new — a good starting point. But I would indeed like to see another entry that lays out every conceivable cost. By the way, the free credit report link was practically a scam. Experian said it was having site problems and couldn’t help me, but annualcreditreport.com treated that as my one-year freebie. TransUnion said I’d visited before I did, so that was that. The third one had all my data, but said I didn’t have a credit score, but I could if I wanted to buy one. Excuse me?
Robert MacMillan
full disclosure, I work for Reuters News.

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By: IntoTheTardis http://blogs.reuters.com/reuters-wealth/2011/08/12/time-to-refinance-how-low-can-mortgage-rates-go/comment-page-1/#comment-7584 Sat, 13 Aug 2011 15:03:40 +0000 http://blogs.reuters.com/reuters-money/?p=18227#comment-7584 Oh, gawd. Must I? I’m worn out with refinancing. I’ve done it twice in the last four years. I thought 5.8%, 30 year was a good deal, so I went with it. Then I pounced on a 4.5%, 15 year deal. Now it’s down to 3.5%? I just don’t know if I have the stomach for another round. I know it’s all about hard, cold numbers, but the amount of time and effort required is daunting.

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By: m2u http://blogs.reuters.com/reuters-wealth/2011/08/12/time-to-refinance-how-low-can-mortgage-rates-go/comment-page-1/#comment-7582 Sat, 13 Aug 2011 14:12:22 +0000 http://blogs.reuters.com/reuters-money/?p=18227#comment-7582 Duh…thanks for sharing.

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By: FBreughel1 http://blogs.reuters.com/reuters-wealth/2011/08/12/time-to-refinance-how-low-can-mortgage-rates-go/comment-page-1/#comment-7574 Sat, 13 Aug 2011 11:26:08 +0000 http://blogs.reuters.com/reuters-money/?p=18227#comment-7574 Now this IS good news, which, I have to admit, is thanks to the Feds.

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By: ForeverSPb http://blogs.reuters.com/reuters-wealth/2011/08/12/time-to-refinance-how-low-can-mortgage-rates-go/comment-page-1/#comment-7566 Sat, 13 Aug 2011 01:42:04 +0000 http://blogs.reuters.com/reuters-money/?p=18227#comment-7566 This article fails to mention sooo many more expences that come to bite you during the refi. Title insurance is a major expence. In our state (NJ) they insisted to reissue us the title insurance every time we refied (twice since 2000).
The author would have done everyone a favor do discuss real issues instead of explaining the obvious.

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