[quote=23109VC]where do you guys think rates will go? I am going to refi – I missed the massive low price a couple weeks back.. rates now are still low and much lower than what I have now, but I’m wondering if rates will back down.
I read online that the fed will start buying MBS’s… and while I don’t really fully get why that will impact rates, I’m reading that rates will go back down because of it.
what do you all think? I can refi now or I can wait afew weeks. I”m not in a rush but want to do it.
i’m currently in a 30 year fixed at 5.25. I was told I can refi now at 3.75 for another 30 or 3.25 for a 15.
my mortage balance is about $260k, on a house worth about $500.
if I take cash out the rates go up substantially.
thanks[/quote]
Do you need the cash? I think in times like these Im glad I have no mortgage on my primary , forget about everything else.
Maybe the goal on the primary could be to lower your payments rather than to take cash out. Reducing risk, and increasing cash on hand from what you currently normally make.
