Question: My interest is 6.0 for 30 years is it a good idea to refinance, interest rates for home refinance are low?

(Posted by: mas on 2009-04-01 17:30:13)

An will i qualify i bought my home on november of 08 in california. or are they only helping people that have trouble paying their mortgage.

Posted by: Bedford S on 2009-04-01, 18:18:22

They are refinancing all people. But as rule of thumb, don't refinance unless rate is 5% or less. Many places are offering that rate and lower. Major problem for most people is property being worth amount of new mortgage. My credit union is offering 30 year convential mortgages for 4.625% with 2 points. So the rates are out there. Check with credit unions or go to bankrate.com for bank rates.