[quote=teaboy]this just re-validates my opinion that points are a rip-off. Dont buy ’em.
tb[/quote]
well, depends. when we refi’d nearly a year ago, we purchased 0.5 point, which amounted to about $2000. that’s the difference of 3.5 months between the old payment and the new payment.
now that the jr jumbo rate is at 4.5% at 0 point, I’m glad I paid that 0.5 point nearly a year ago to bring my rate down to 4.5%.
