Refi Mortgage Rates
Is 6.25% and 1.25 pts. a good deal on a refi. from a major mortgage company?
I am working on a refinance with a national mortgage knows company. I have tried to do as much research as possible to find out what current mortgage rates are. This is the best they said that they would be able to give me. According to reports from Freddie Mac and several newspapers, interest rates of around 6% or lower.
There are so many variables that no one can answer this. Assuming a credit score above 700 and all other factors are in order, rate does not seem too high, but 1.25 points may be purely broker profits. Tag your good faith estimate to another broker and see if they can do it without points.