Will refinancing your home achieve a 4% rate anytime?

Question by Les R: Will refinancing your home achieve a 4% rate anytime?
Cramer keeps saying mortgage rated will go down to 3-1/2 to 4%. There are some 4.25% rates in West Alabama but they carry big points and fees. Right now 5% seems to be the best deals. If I want to refinance my home should I pull the trigger now or wait longer?

Best answer:

Answer by tripcabo
No way of knowing for sure (as you know). Me personally . . I would pull the trigger if you have a 5% locked in and everything else looks good. That really is a great rate (we are closer to 6 on the low end in San Diego).

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2 Comments → “Will refinancing your home achieve a 4% rate anytime?”


  1. Raptarr

    Aug 25, 2013

    go 2 yahoo finances and you will go down by a lot its like death


  2. chatsplas

    Aug 25, 2013

    Doubtful EXCEPT on ARMS, and an adjustable rate mortgage is NOT what any sensible buyer wants. It’s possible, but they usually compensate by adding on fees, points, and other things.
    With good credit and good equity, now can be a good time to refi.
    Need 1-2% difference in rates to make it worthwhile to do. Look at how long you have to keep home to break even on extra costs of refi BEFORE you begin to gain anything from the refi.


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