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Profile picture for dhiren55

Any one has stream line or refinance mortgage with current rate 3.875?

I live in NJ, Single Family House.. Excellent Credit history. LTV = 78%..
Current rate is 3.875 on 30 yr fixed
Has any one success refinancing or stream lining their mortgage with this rate??
I am aiming for 3.5 or 3.625 with no or minimal cost?

Please advise
Thanks
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April 27 2012 - Edison
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Answers (3)

Profile picture for Pasadenan
Average mortgage rates suddenly went down this week.  Not quite the low for the year yet... but some are anticipating even more drop.

See the thread:
Rates on the move again

Still, with the cost to refinance, 1/8 or 1/4% gain on rates usually doesn't pay off, unless one is VA and can get "no fees".

It doesn't hurt to try the "free anonymous" ZMM loan quote requests... click on the chart on the right, or the "mortgage rates" tab at the top of the page.

Keep watching those rates!  The government and the Federal Reserve and Mortgage Backed Security investors still like to play with the numbers.
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May 01 2012
You are wasting your time unless you are talking about a 10 or 15 year mortgage. Trying to refinance a 3.875% 30 year rate is ridiculous.

Please ignore Brant who apparently likes to violate the Truth in Lending Act by posting rates without APR. If he has a license, he won't for long.
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May 01 2012
fha rates today are 3.75% min 660 credit.
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May 01 2012
 
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