Check with your same lender. The appraisal should still be good and the abstract work should be pretty solid still. Should be able to drop it for a couple hundredRefinanced in Feb before **** hit the fan. Went from 4.25 to 3.25 on a 30 year, and was really happy with that. Now I'm pissed I didn't wait, lol.
Who was your loan provider?Just a heads' up the refinance rates now are really low. I've tried to refinance a few times and it was never low enough to make sense for us but this week I locked in a 2.6% 15 year rate with no points and only $1,300 in closing costs. It raises my monthly cost by $6 and saves about $22,000 in interest.
I was talking to my dad about it and he said "Even if you decide to move or lose your job the worst that could happen is you're down that $1,300." That sealed the deal for us.
Anyway, great rates out there now.
It might be worth a call to see if you can renegotiate. My lender told me if the rate dropped more than 1/4 point, they could renegotiate with the servicer. The wild card is the new federal fee.Refinanced from 4.5% down to 3% saving around$200 per month. Just checked the rates this morning at the credit union we refinanced from... 2.65%. I'm pissed.
That explains the gap between refi and new mortgages. Thanks and looks like I missed out!Locked a refi last week at 2.5% for a 30 year. Old rate was 3.875.
This week the gov't stuck their hand in the cookie jar and announced a .5% fee on all refinance loans starting in September. Lenders are stuck with those in process and already locked (like me), but they are already pricing the federal fee into their rates.