I wondered out loud last Monday why I couldn’t find a no-cost refi deal for a 15-year fixed rate mortgage at 4.5%. Reader Raghu commented that he got an offer for 30-year fixed at 4.875% with a 0.125% escrow waiver fee. I called the mortgage broker he referred to me but the broker is not […]
Waiting For a No Cost Mortgage Refinance
Ever since late last year, there have been numerous news reports about the mortgage rate going to 4.5% or the mortgage rate reaching historical lows. The headlines read Treasury mulls plan to lower mortgage rates to 4.5% (CNN, 12/4/2008), Mortgage Rates Fall to Another Record Low (Fox, 4/2/2009), and so on. Then how come I […]