- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
15 year refinance rates
Posted on 6/26/25 at 8:17 am
Posted on 6/26/25 at 8:17 am
Anyone know what the 15 year refinance rates have been recently?
I currently have a 30 yr at 6.5 on my parents house. I already essentially pay the p&i x2 to help them pay it down faster.
Just trying to see if it would make sense to refi 15 year loan if I plan on continuing making the same payment or if it's not worth the hassle and just to continue doing what I'm doing
I currently have a 30 yr at 6.5 on my parents house. I already essentially pay the p&i x2 to help them pay it down faster.
Just trying to see if it would make sense to refi 15 year loan if I plan on continuing making the same payment or if it's not worth the hassle and just to continue doing what I'm doing
5
Posted on 6/26/25 at 8:24 am to Puffoluffagus
I'm no expert, but it seems like now is a bad time to refinance for a lower rate, given all the talk about rate cuts coming before the end of the year.
Who knows, what the future holds, but if I were me, I would probably wait a few months and see what rates look like.
Who knows, what the future holds, but if I were me, I would probably wait a few months and see what rates look like.
Posted on 6/26/25 at 8:40 am to Puffoluffagus
Refinance costs are not insignificant. Continue to make extra payment toward principal.
This post was edited on 6/26/25 at 8:42 am
Posted on 6/26/25 at 11:33 am to Puffoluffagus
bankrate.com is a good starting point.
I just looked at bankofamerica.com for numbers for a larger bank. Click on mortgages->refinance then you can enter info for your zip code and size of loan. It pays to keeping looking as rates change. Good Luck!
I just looked at bankofamerica.com for numbers for a larger bank. Click on mortgages->refinance then you can enter info for your zip code and size of loan. It pays to keeping looking as rates change. Good Luck!
Posted on 6/26/25 at 1:10 pm to kaaj24
quote:
Refinance costs are not insignificant. Continue to make extra payment toward principal.
I assumed that it would make sense for the OP, but yes, if you are less than 5 years from paying off the home, a refi may not make sense. It depends on the closing costs and how much you're saving on interest over the time you have left
Posted on 6/27/25 at 10:26 am to Puffoluffagus
I would continue as is. Time left on loan is a big factor to consider, but personally would not refi until the difference in rates was something like 2%.
Also, opportunity cost of what else you would do with the difference in cost, ie are you pulling it from other investments?
Also, opportunity cost of what else you would do with the difference in cost, ie are you pulling it from other investments?
Posted on 6/27/25 at 4:34 pm to KWL85
quote:
I would continue as is. Time left on loan is a big factor to consider, but personally would not refi until the difference in rates was something like 2%.
Also, opportunity cost of what else you would do with the difference in cost, ie are you pulling it from other investments?
Fair enough. I'll keep it as is unless the rates drop further
There's 24years left on the loan now. If I keep paying like I'm paying now, it'll be paid off in 9 years ish.
It's the highest rate debt I have(my primary house is 3.5% and student loans are 3%). Im not missing anything in terms of opportunity cost/retirement. Just would be nice to free up cash flow and if refinancing to a 15 year would let me do that sooner, I would consider it.
Posted on 6/27/25 at 6:19 pm to Puffoluffagus
quote:Then stop paying so much every month.
Just would be nice to free up cash flow
Posted on 6/27/25 at 6:28 pm to Puffoluffagus
Personally, no. The flexibility of being able to back off when you want to is worth the extra interest rate IMO.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News