Is now the time to refinance a house?

Jere
Will rates go down any more or should they be going up? I currently have a 6.375 % for 30 yr and would like to go to a 20 yr.

Fatimah
That's the funny thing about interest rates, there is no way to accurately forecast what they will do. I can you this much the market has been extremely volatile the last several month so when rates do dip like they hav this week you need to be prepared to lock something in.

Corrin
With closing costs it does not pay to refinance unless you get a rate that is 2% less than your current. You can shorten the length of your mortgage without refinancing. All you need to do is send extra principle each month. If you check your payment stub there is a space for that. We did it and house is mortgage free.

Aura
On Wed, rates were 5.5% with no points in my area (30 years). THAT IS GREAT.Will rates drop. ??????