May 3rd, 2012 11:58 AM by Eric Fang
Q:We need your suggestions. Our rate is 4.125%, the rate is 3.75% on your website, dose it worth to do the refinance now? Could you please caculate roughly how much less we will pay each month after this refinance if we can lock at 3.75%? Should we wait for a while or we should do it right now?
A: You saved around $125 for your 571k loan. So it's up to you whether you need to refi at this moment.
Basically the rate of 3.75% for 3 yr fixed high balance programrequires impound account or LTV<=60%. Now back to the question whether we can have 3.625%. From the current level, we will eitherpay one points to get this rate or wait the bonds going up. For this 1 point, the Dow should go down 500 to 800 points or more.But who knows, since the euro country crisis never ends, yet.