refinancing

[elgordoboy]

Yes, have run the various calculators, and was just curious if others were using the opportunity of the current lowering of interest rates to refinance. Don't know how long I will live here; haven't decided if it is a primary or secondary residence, and am only financing about 15% of its tax assessed value. Just looking to save a few bucks to contribute to the local economy at Borago or Bud and Alleys.

Smart to sweeten the pot this way. I figured it surely would've drawn Shelly out. Hmm ..post something about how a bottom is surely in and nothing but sunny skies ahead in real estate. That may be a bit obvious though at this point and the Shellybear is the most crafty and sly of creatures.

 

[YoungFT]

Mortgage Bankers Association reported that refinancing activity last week reached its highest level since April 2004. With the yield on the 10-year note heading south in the past month, the refi surge will likely continue. The rate on the average conforming mortgage is 5.57%. The historic low was 5.21%, seen in in June of 2003.