Is Anyone Refinancing Their Home Right Now?

[Recyclersteve]

To take advantage of the super low interest rates that exist right now, is anyone refinancing their home? For some people this should be a virtual no brainer. For others, they need to consider that they could lose their jobs and it might be hard to qualify for a new loan.

Personally, the topic doesn't apply to me as my mortgage is paid off, but I still think it is a topic that people need to consider.

[Rodebaugh]

Good advice Steve. I have one small note remaining with an APR of 7.5%. Quickly speaking with just one of my banks it looks as though I can reduce that APR to 4.35%.

Saving 3% a year on a 100K note. Refi cost looks to be about $300 total. Darn no brainer!

My money thanks you, Doc

[Thogey]

I'm already at 3.5

[AdamsSamoa]

We just did on our FL house... got 3.25

[Recyclersteve]

Good advice Steve. I have one small note remaining with an APR of 7.5%. Quickly speaking with just one of my banks it looks as though I can reduce that APR to 4.35%.

Saving 3% a year on a 100K note. Refi cost looks to be about $300 total. Darn no brainer!

My money thanks you, Doc

Hey, that's my good deed for the day!

[hobo finds]

Paid ours off got a new car to replace wifes 2000 ford explorer we bought new. 0 down, 0% interest for 72 months and no payment for 4 months. House was 5.125 % interest and only had to pay off 5k on it. New car about the same payments as we were doing for the house.

[chris6084]

I moved at the end of July. Sold a house, bought the new one borrowing about the same I was before. Reduced my payments a couple hundred a month.