Should I wait for fed rate cut or continue with refi?

Totalfixation

LoanSafe Member
Jun 22, 2019
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0
1
I have a 3.5 for a 30 year locked no closing cost for another 20 days or so.

Should I wait to see what the feds do on July 30th? Or continue with the refi?
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,040
160
63
San Diego, California
www.loansreduced.com
That's not a bad rate but they have dropped, see if your lender has a float down option available to lower the rate to market.
 

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,040
160
63
San Diego, California
www.loansreduced.com
It has already affected rates, the 10 year bond has also continued to drop and last I checked it was at 1.73% which is phenomenal. If you would like me to go over a scenario, feel free to shoot me an e-mail at: [email protected] or give me a call at 619-379-8999 and I can send you a snapshot of what they're looking like for your personal scenario. Each option is different depending on credit scores, equity, occupancy, property type, if you want cash out or not...among other factors that will determine the rate you're eligible for.