Profile picture for maylodee

Good rate? 5.125 no points, no fees 15 year fixed

I think I originally post this question under the wrong category.

This is for a re-fi (115K) with cash out (100K to pay off 2nd). Would you lock it in? I have until July 27th to decide, but the interest rates suddenly spiked. Should the interest rates drop 60 days after I close, the bank will honor this and will do the paperwork at no cost.

My rate on my existing loan is 4.875% and it's 3% (subject to the prime rate) on my 2nd. My reason on re-fi is to consolidate all bills.


Do you think the interest rates will go up in the summer? thanks!
  • June 04 2009 - Vallejo
  • 0Yes

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Answers (3)

Profile picture for boem
  • boem
  • 38 contributions
lock it in now... don't wait any longer where do you get such a good rate like that no closing cost, no point... good luck
  • June 05 2009
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Profile picture for daveskow
lock and close loan
  • June 05 2009
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15 year fixed at 5.125% - no points and no closing costs (or is it 'no lender fees')? In either case, that's a good rate in today's environment, and if the bank will lower your rate within 60 days of settlement at no cost, then you have nothing to lose. Lock 'er in!
  • June 04 2009
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