[quote=harvey][quote=FlyerInHi]
The decision to refinance is separate from the loan product your want to select. Decide if refinancing makes sense, then select from alternative products.[/quote]
Exactly. The first choice is whether to play at all, the second choice is to find the bet with the best odds.
If rates have dropped more than half a point or so, any refi bet will have very favorable odds, but some have better odds than others.
All this agonizing over whether rates will go up or down or whether someone picked the right bet in the past is irrelevant.
At the craps table, any bet can win and and any bet can lose. But some bets have much better odds than others. Previous rolls of the dice don’t change the odds. Even if the bet with the better odds loses multiple times, it doesn’t change the odds of the table.
And yet people who understand this logic clearly do not always apply it in their own decisions.
Now you are sounding to be in agreement eith wjat i was assertinf all along. It depends…
So Harvey, the entire rathole you took us down on this thread was your argument that no cost loans are ALWAYS worse than loans when you pay for the cost up front. Are you now saying that isn’t the case?
Since we are playing arm chair quarterback in which we did have a period of 5-6 years of declining rates, are you stilling arguing it would have made sense to pay point and costs along the way down?
I think we might be agreement that either bet is a bet. But it’s still not clear to me if you still think people would have been better off paying costs up front during the past 5-6 years when we had a rate decline. So what is your position on this?
