I’m Refinancing My Mortgage

Among the stock market chaos, the bond market had a rally, which brought down the mortgage rates. I’m refinancing my mortgage. I already locked my rate but I don’t have time to write it up as a detailed blog post yet. If you think you might also benefit from a mortgage refi, you can read these threads on the Bogleheads forum:

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Comments

  1. Anonymous says

    If you don’t mind me asking, did your rate decrease by at least 100 basis points?

    I am thinking about a re-fi, but, I’m not sure that it makes sense. I have to get busy with Excel.

  2. TFB says

    No, it did not decrease by at least 100 basis points. It decreased only 25 basis points. But because I’m doing a “no closing cost” refi, as long as the rate is lower than what I’m currently paying, I have nothing to lose. See the linked Bogleheads forum threads for more details.

    Yesterday was a good day for locking in a low rate. The rate jumped up 0.50% today. If we have another bad day on the stock market, the rate may drop again. So watch the rate closely.

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