Currently in a 30-year fixed at 4.25% (which was very good in 2011 when we re-fi'ed). My credit union is currently offering a 15-year fixed at 2.875%. Checking into it now and crunching the numbers.
Rates are really low right now.
I just did a lock yesterday, 4.25 to 3.75% 30 year fixed. Doing it as a no-fee refi with a $1400 lender credit to cover all third party costs. I could have done 3.625% but would have had to come out of pocket at least $1100. My original mortgage just last year was 4.75, so this is the 2nd refinance in about that time. If we see 3.25 or anything else I'll probably refi again!
Wow, we didn't see that low (even with top credit and a boost for good loan to value ratio). We locked yesterday at 4.00%, with no fees. Original mortgage 10 months ago was 4.25%.
I agree, I was surprised. There is some regional and situational variability to rates I think. In addition, sometimes you get better rates on larger loan amounts (we refi'd $400k) On Zillow right now, for our situation, I still see 3.75 fixed 30 with no direct closing costs but no lender credit for third party fees, so probably $600 to $800 out of pocket there.
Did you use a broker, bank, credit union? I am constantly surprised by the variability of rates at different places and how their underwriting can make one company much better than others depending on one's situation.
For reference I use two brokers who I use to compete with each other on best execution rates both times I refinanced, and ended up using the same broker both times, but I always make sure they know I am looking around.
