Refinance Investment Properties?

[wageslave23]

I refinanced my primary residence a couple months ago.  But I've been waiting for interest rates on investment properties to catch up to the drop in primary residence interest rates.  I can get 3% now for $1500, which would pay for itself in 2 yrs. So it makes sense to do it, but I'm wondering if they will continue to drop once the uncertainty surrounding covid eviction moratorium ends.  Any thoughts?  Also i could could do cash out refinance at about 4% on the extra cash.  Normally that would be tempting but I'm not too thrilled about essentially leveraging cash at 4% in order to invest in this stock market.

[pressure9pa]

I've been wondering this myself.  I have about $60k owed on a rental at ~4.5%.  Part of me just wants to write a check and pay it off, mainly so I quit tying to time the refinance. 

[sailinlight]

I'd check around more for better rates for a cash-out. I am in the process of closing on a cash-out refi of a 4-plex investment property at 3.125% and 1 point. Our current rate is high enough that it will pay off after a little more than a year, but it's way lower than anything my normally excellent mortgage broker could get. I'm hesitant to give the name publicly since it hasn't closed yet and I don't want to endorse them before getting through the whole process, but I can give it over DM.

[wageslave23]

I'd check around more for better rates for a cash-out. I am in the process of closing on a cash-out refi of a 4-plex investment property at 3.125% and 1 point. Our current rate is high enough that it will pay off after a little more than a year, but it's way lower than anything my normally excellent mortgage broker could get. I'm hesitant to give the name publicly since it hasn't closed yet and I don't want to endorse them before getting through the whole process, but I can give it over DM.

Thanks. But that's basically the rate I'm getting too.  The 4% I indicated was because I'm a nerd and am imputing interest based on the extra point I have to pay on the extra $30k cash out in order to get 3%. Based on holding the loan for about 7 yrs

[rothwem]

I just closed on a cash-out refinance for my duplex at 3.5%. I paid 0.8% in discount points.  While I was in the lock period, the rate dropped to 3.0% but the points increased to 1.4% and they offered to let me switch to that loan configuration but I didn’t want to have the extra $2500 in closing costs and the loan was taking for fucking ever to close and I didn’t want to delay it further. Would’ve been a 27 month ROI.

Ah well. Better than the 4.5% I had before and I’m able to pull 72k out.