Quote:
Originally Posted by ChinoCoug
The rate for 30-year fixed is around 3.5%.
Inflation historically is 2.5%. That means a real interest rate of only 1%. With interest rates in savings accounts at 0.5%, there is no point in holding on to money (other than for emergency funds).
I've gotten two 3-bedroom homes in Northern Virginia and refi'd twice. One is on a 15-year loan.
It's also easy to find renters now that no one is buying and the renter's market is flooded. I've had no vacancies for 2 years.
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We just did a refi last November. One of the smarter decisions that we've made. We shaved over 3% off of our rate.