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Interest rates at all-time low

Interest rates at all-time low

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  • skyqueen skyqueen's Avatar 01-09-09 | 04:48 PM
  • I was just coming here to ask this very question.

    INterest rates are stellar right now!
    the one snafu for alot of people hindering their refi is the debt to value ratio
    the housing slump really did a number on alot of people so unless you've been in the house for a while now, chances are the debt/value ratio is not good enough for a refi.

    DH and I have been looking at that. We have 3 houses and 2 of them are at super good rates already and it wouldn't help us to refi anyway. Our 3rd house has been hit by the devalueization (is that a word
     

     

     
    ) the hardest and thus our debt/value is probably just barely good enough to qualify for a refi... we're checking on that with our mortgage broker, though.
     
  • Janine Janine's Avatar 01-09-09 | 06:50 PM
  • We've only had our house 3 years and with housing prices taking a beating, the debt to value ratio probabaly isn't too great. We are at 6.5% so it's not too bad.
  • Emery Emery's Avatar 01-09-09 | 07:25 PM
  • I'll have to ask DH what he thinks and maybe we can get a new one. I'd like to get it into a 15yr also. We try and pay 1-2 extra payments a year so that we can pay it off quicker as it is, but I'll have to look into it.
  • jaedrae jaedrae's Avatar 01-10-09 | 01:12 AM
  • We are already at 5%, so we probably won't refinance. That is amazing Deanna that your payment is only going up that much. WTG!!!

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