How long does it take before you refinance

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Of course no one has the interest rate cuts crystal ball, but we know more rate cuts are expected in 2025.

If you bought in the last 2 years, how long will you wait to refinance?

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I’m at 6.25% right now, I’d probably refi if/when it goes down below 5, hopefully around 4.5 or 4.75 and if it goes below 4 I’d refi again.

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I’m at 5.7. I’ll start looking when I get a rate around 5. I doubt it will drop below 4 ever again unless we have a huge crash

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Now. Bought July 2023 at 7.1% conventional loan. Refinancing now at 5.3% VA loan.

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Bought a year ago at 5.6% FHA. I’m waiting for <5% on conventional.

I got a message from my loan officer that they’re doing 4.75% with 1 point on FHA. I’d save ~$400/month, but I’d rather hold out so I can drop the $475/mo PMI on the refi. Or wait till the point fee lowers

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Probably 2 more years but it all depends on how bad the economy gets and what the FED does. Could be 20 years.

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Current rate is 5.99 anything sub 5 will get me to begin the process

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I have 5.75% from when I bought a year ago in part because Wells Fargo gave me a relationship discount. I’m intrigued by Chase bank’s relationship discount where you can drop it up to 1% depending on how much you move to them. Relationship Pricing | Mortgage | Chase

Keeping an eye on it. A lot of people here are saying theyd wait until it hits 5% but if you have a shitload of money to move you might actually be able to get 4% when that happens.

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