is it a bad time to refinace my home?should i wait?interest rates seem like they are going up?
84907
Here's a good article to read about whether to refinance:\nhttp://www.fuzeqna.com/wastatecu/consumer/kbdetail.asp?kbid=489\n\nHere's a calculator to run to see if it makes sense to refinance given your particular circumstances:\nhttp://www.fuzeqna.com/wastatecu/consumer/kbdetail.asp?kbid=591
771501
If you own the house you can refinance it.  Just be aware that if your loan amount(s) exceeds the selling price, you will have to bring money to the closing.
286641
Since your from Canada maybe it's different here in US. But I can tell you here in the US, applying for a lender that offers refinancing and at the same time offers interest only payments are getting more and more popular. Maybe you need to try a different bank or lender to get that deal. The only way lenders will turn you down is if you exhausted already most of your equity of your house. Also, try looking into "Open Equity Line of Credit".
623592
You are paying approximately 12.5% interest.  I do not understand what type of loan this is (mortgage, auto, personal, etc.) but this is a pretty high interest rate.  I would discuss refinancing it with someone.
389318
you should refinance your mortgage.
1064299
I agree with Realestatelawyer on this one.  There would be a clause in your mortgage that would not allow it to go any higher than 9.875%.  As far ARMS being dangerous????  That is just not true.  They are only dangerous for the dumb witted person that has no idea what they have gotten themselves into.  Use them right and they will be your best friends.\n\nI would ride out the 5.875%.  Maybe add some extra payments onto the mortgage this year as well.  I doubt that rates with be anything like they were in the next two years, but we never know what could happen.\n\nGood luck with that.  If you still are considering refinancing, feel free to contact me and I could help you out with that.  You can contact me at timothy.kazee@americanhm .com.  Have a great night!
858461
I am not sure why you are doing "repairs" on a new home, but I would steer clear of adding additional financing to your home.  If it is only 6 months old, and you purchased new from a builder, then you are probably upside down anyhow, and you won't get a loan.\n\nFinally, what did you do with the HELOC you already have?  if you didn't use it for home improvements, just an fyi, the interest may not be fully tax-deductible, if deductible at all.  Hope this helps.
103399
I wouldn't do it.  You are risking the equity that you have built in your house.  Also, you would need to generate a high rate of return just to pay for the interest on that loan.  High Return = High Risk!
301123
That is a good rate, but be sure to read the fine print...they can often increase the interest rate if you are late, don't pay a certain amount each month, or after a certain period of time.  It is better to pay it off each month if you can...then you are paying 0% interest...can;t get better than that!
949086
The interest rate is horrible, but keep building the score so if and when you borrow in the future the rate is more reasonable, like in the single digits. You have to repair the score somehow so its a good start.
377142
Less interest is more money in your pocket.  If you can pay off your house, then by all means, do so.  The only reason I can see for you to refinance is if you need to have all that extra money in the bank to make other types of payments or have other large expenses.  \nShould you decide to refinance, be careful.  There are a lot of ways that they "get" you.  You can refinance to a lower payment term per month but have your 10 year mortgage at 1500 turn into a 20 year mortgage at 1100 a month or the like.  This suckers a lot of people in, but do the math and see how paying less a month will cost you more in the long run.  Anyway, good luck!
799247
Nobody knows what the rates will be like in six months. that's the risk.\nDepending on how bad the credit is, Rates look very good now. Can you afford the payment comfortably, now? If so I'd do it. \n\nIf you do, though, make sure you have a prepayment penalty that fits within your time-frame for rebuilding your credit. Also, there is something called seasoning that you must have before you refi. it varies between companies, but you usually have to make consistent payments for a year or six months.\n\nIf you're planning to buy then refi into a better loan, be aware of closing costs. Anytime you have a short term loan you want it to cost as little as possible, even if the rate is higher.\n\nFeel free to write me with any questions.
425508
If I had a magic ball..I would be doing something else with my life than writing mortgages...my opinion after 13 years of watching the market move..I think rates will continue to climb...my guess..7.5 by year end...8.75 by end of next year...i really think they will then move into the 9% range..total of 4 years we will see a refi boom...but rates will only fall to the high 7% range...I will never see rates in the 6's or below in my lifetime again...just an opinion.
376
I think there is a lag in new home sales and the closings in October really were under contract in Aug and September, thus November numbers should be down dramatically even after seasonal adjustment. Rates will undoubtedly go up again at the next meeting, but with the advent of so many new mortgage products (interest only, reverse mortgage, etc.) money is still relatively easy but definitly more risky. I expect volume levels to slow, prices to flatten across most of the US but do not see a big drop in prices unless rates get above 8%.
374794
Depending on your credit score- I would say refinance now to take advantage of todays market as rates are moving up.  Certainly get out of your HELOC as I'm sure you have seen that rate go up dramatically in the last year and it is expected to go up about another 0.5% in the next 6 months.  If you have the room as far as equity goes in your home, it would seem you are in prime position for a refinance.
610980
you may not have enough equity to even consider refinance..Basically look at the interst rates of your existing loan and the rates that are currenlty being offered. Is there more than a 2 point differnece? Has homes in your area in the last 6 months gone up in value considerably? Don't forget with refinancing also comes clsoing cost, points, assesment, and attorney fees. Talk to you finance company. Otherwiwse look at possibly a second mortgage or line of credit (again depends on equity though)
1132899
It might be a better time to get out of the bond market.  6 mo T-bills pay 5%. Why tie your money up for 10 years and risk that interest rates might go up to 8% long term. That is probably where they should be.