Comments on: What’s Going on with Rates on Mortgages?? http://mioaklandcounty.com/blog/2009/03/31/whats-going-on-with-rates-on-mortgages/?utm_source=rss&utm_medium=rss&utm_campaign=whats-going-on-with-rates-on-mortgages Real Estate in Birmingham, Bloomfield Hills, Beverly Hills, Royal Oak, Troy and Oakland County Michigan Tue, 07 Feb 2012 20:06:34 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Detroit Homes http://mioaklandcounty.com/blog/2009/03/31/whats-going-on-with-rates-on-mortgages/comment-page-1/#comment-69404 Detroit Homes Wed, 06 May 2009 05:13:15 +0000 http://mioaklandcounty.com/blog/?p=1358#comment-69404 Nice informative post. I like your post because the information in your post is really very helpful. Thanks, Sofia Nice informative post. I like your post because the information in your post is really very helpful.

Thanks,
Sofia

]]> By: Ken Mascia http://mioaklandcounty.com/blog/2009/03/31/whats-going-on-with-rates-on-mortgages/comment-page-1/#comment-69364 Ken Mascia Fri, 03 Apr 2009 13:23:52 +0000 http://mioaklandcounty.com/blog/?p=1358#comment-69364 Hi Richard, There really is no "rule of thumb" for refinancing that matches all situations. A refinance always makes sense if the payback period (the time it takes to recover your closing costs with the reduced house payment) is short enough and you plan on being in the house long enough to benefit. With the advent of no-cost loans a few years back, if you can refinance and lower your rate for little or no cost then it always makes sense regardless of how big or small the rate difference. Thanks for your comments! Hi Richard,
There really is no “rule of thumb” for refinancing that matches all situations. A refinance always makes sense if the payback period (the time it takes to recover your closing costs with the reduced house payment) is short enough and you plan on being in the house long enough to benefit. With the advent of no-cost loans a few years back, if you can refinance and lower your rate for little or no cost then it always makes sense regardless of how big or small the rate difference. Thanks for your comments!

]]> By: Richard Stabile Bergen County Real Estate http://mioaklandcounty.com/blog/2009/03/31/whats-going-on-with-rates-on-mortgages/comment-page-1/#comment-69363 Richard Stabile Bergen County Real Estate Fri, 03 Apr 2009 01:35:29 +0000 http://mioaklandcounty.com/blog/?p=1358#comment-69363 I think, the rule of thumb to refiance is 1% in the interest rate. If you can save one percent it is worth refinacing. Also if you can look for the new programs for refinacing by the new bill signed for people to lower their mortgage rate and princible. If you quialify it could make a huge difference. I think, the rule of thumb to refiance is 1% in the interest rate. If you can save one percent it is worth refinacing. Also if you can look for the new programs for refinacing by the new bill signed for people to lower their mortgage rate and princible. If you quialify it could make a huge difference.

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