Mortgage Rate Prediction
When will interest rates at their lowest?
When will interest rates at their lowest? Make a prediction. I want to refinance my mortgage payments.
My advice would be to refinance when you find a lower rate than your current one, which has negative points equal or lower than any refinancing fees you will pay. The way, if rates drop, you can always refinance again in the future without paying anything out of his pocket. Example: Your current rate of 6% and your balance is $ 200k. When you find a rate to 5.75%, and -1 point ($ 2k = $ 200K * 0.01), you'll receive $ 2k. Provided your fees $ 2k, the -1 point would lift your fees and you will not incur any out of pocket. Should interest rates fall again in the future, you can do the same again without cost.