Quote:
Originally Posted by Rob
So were the 2% rates .... It's all about timing
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I feel like a genius when my wife and I intentionally refinanced a 30 year with an adjustable rate that we were forced into by a family member's failure processing our previous mortgage. Old rate was on a 7/23 adjustable with a rate of 3.375%.
We switched to a 15 year at 2.675%. Being a 15 year, obviously payments per month went way up, but well within the monthly budget. On the old loan, our mortgage payment would have already increased $500-600/mo. and climbing with however many more rate hikes there are.
Bullet dodged!
