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Mortgage rates flatten to near record level

By Holden Lewis · Bankrate.com
Tuesday, June 8, 2010
Posted: 1 pm ET

Mortgage bond yields have flattened out at a remarkably low level, and mortgage rates have done the same. It's not too late to refinance. If you missed a refi opportunity a couple of weeks go, you have another chance now.

Bankrate conducts its weekly rate surveys on Wednesdays, and if the research department were making the calls today, we would end up with a benchmark rate of around 4.85 percent for the 30-year fixed. That would be a record low in the rate survey's 25-year history.

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1 Comment
Frank Rizzo
June 08, 2010 at 11:08 pm

I wanted to refinance my loan which is 125K and looked in to it about 4 months ago. Have great credit, low debt to income and a two income household. Currently have a FHA and looked in to a Streamline Refinance.

Rate quote was in the 4.80's for a 30. my current rate is 6.25.

By the time it was all said and done, there was about $6,500 in fees, taxes insurance, etc. It seemed like allot. When I figured it out, it would take about six years to pay down the cost since they were rolled in to the deal. Didn't seem worth it at the time.

About 7 years ago we refinance a different house we lived in, and if I recall, there was only about 3k in fees etc.

Is Streamline Refinancing worth it? Have you ever touched on the subject Streamline Refinancing?