On Apr 8, 10:50 am, Augustine <evan...@[EMAIL PROTECTED]
> wrote:
> Now that the mortgage rates haven fallen significantly, I suspect that
> it's time to start thinking about bringing my mortgage rate of 6.59%
> down. I've got 16 years left on it, so a 15-year fixed is a fine
> proposition, provided that the closing costs are low.
>
> I an thinking on starting by calling the current loan holder and
> asking for a rate reduction, hopefully at no out-of-pocket cost.
>
> The problem is that the rates are not that down, especially
> considering the low Fed's rate. What would be the best course of
> action at the moment?
>
> TIA
>
First you said the mortgage rate has fallen significantly. Then you
said the rates are not that (far) down. So which is it? I think the
mortgage rate has indeed not fallen that far down. But still it
should be lower than your current rate. Certainly check with several
mortgage companies in your area and see what you are offered. Your
current mortgage holder is indeed a good starting point.
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