Been paying extra in my house since I bought it, have about 6 or 7 years left before it’s done at the rate I’m Going
But thinking about a refi for a lower interest rate. Currently at 4% and can get it down to 2.5 at my local bank.
Anyone seeing them much lower through the secondary market?

I don't have a mortgage now but will be getting a home equity loan next week. I could have got a 2.6% 1st mortgage loan but that was a minimum 15 year contract but could repay. Due to not having a loan the would charge me about $1200 for closing costs. I can get a home equity loan for 3.7% with closing costs about $700 less and pay it back in 3 years. The interest difference for the amount I am asking for is not enough to cover the additional closing costs. Our rates seem about in your ball park. I don't know if a longer term would have been lower.

Bryce

NE wildlife Im not sure if the rates will be come down but before you jump look at the cost of refinancing especially if your on the last few years your finally paying mostly principle and not so much interest. Your likely to pay a lot to get your house reappraised, loan origination fees and on and on. You may be better of just paying more on the payments.

Rates for a 15yr fixed are around 2.5 -2.6% as of Friday locally

^^^^agree with this..Id run some numbers before refinancing. Sounds like you are on a good track to being debt-free early. After this, pay cash for things as you go, being debt-free is priceless..literally

Am waiting to wrap up all the paperwork now on a refi at 2.375% fixed for 15 years. Think I may have to pay one point.

call loandepot.com for a quote, I’ll bet they have the best rate and lowest fees. I refi with them for -70 in fees (yes they paid me) and no fees rolled into principal back in September.

At these low rates you may be able to shorten your term AND lower your rate, double the fun toward early payoff without much change in cash flow for payments.

Jim