I have 4% 30 year fixed mortgage. Can I do better?
House, owe about195K
Answers | 2
That is an outstanding rate. The average rate was 3.98 % for 30 Year or 15 YR is 3.13 % according to www.freddiemac.com weekly survey (this is a non sales oriented survey and Freddie Mac is currently government owned). If you have additional questions feel free to call me.
4% may not be the VERY BEST rate out there, but it's doubtful you'd benefit enough to refinance by lowering your rate .25% or so. One thing to keep in mind regarding the WEEKLY rate surveys is that they are outdated before they're even published. It's kind of like saying "the average temperature was 70 last week".....doesn't mean it's 70 now, or will be in the next few days. Mortgage News Daily is a website that updates national "best execution" (ideal borrowers) rates daily, it's a far more timely and accurate way to track rates.