Parag
Parag

Mortgage rates are in 4-5% range now and will most probably trend higher in the near future. Glad to have refinanced in 2020 when the rates were super low and locked in at 2.5%

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pratik
pratik

@parag Same. We too refinanced in Aug 2020 at 2.5% for a 15-yr-fixed. Best decision ever! Mortagage interest for the year fell by 50% in the first year.

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stupendousman
stupendousman

@pratik we want to move this year cos had HS but man I also refinanced at 2% - would hattttttte to give that up! @parag

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Parag
Parag

@supremus it is terrible that you can’t transfer your mortgage to the new house. 😄 Maybe an idea for a new financial product. @pratik

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In reply to
stupendousman
stupendousman

@parag you can do that already in Canada. So I am sure it’s a deliberate ploy by banks not to give that function here. However if interest rates climb too high I could see that happening here @pratik

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