Quote:
Originally Posted by randomguy
Any of you mortgage gurus-
Have a house purchased 1.5 years ago for 246k. Probably worth around the same now. Interest rate of 6.65% on 30-yr fixed. With Fed cuts, think it's worth it to refinance?
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This will all depend on what your home appraises for and if it is well above your purchase price. The other factor to consider is you closing cost needed when you refinance. I ask they same question to one of my mortgage friend and she said it was not worth it. She mentioned that if the interest rates went down to about 5% then we could look at the option. Hope that helps.