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Reply to "Are rates dropping further?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We locked in a refinance rate today. 5.75 for 15 year. They might drop more or they won’t, but we’ll earn the closing costs back in 6 months. [/quote] I think you will be able to get lower than that soon.[/quote] DP here. The issue with refinancing is how long do you want to wait and miss out on lower interest rates now? And how much risk are you willing to take (in this volatile economy) that rates will significantly go down and not stay the same or rise? At a certain point, the ROI is better to start paying 5.75% instead of 7% now, rather than hold the 7% in hopes of a future rate significantly lower than 5.75%.[/quote]
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