Ha, they actually paid me. Those were the glory days of no-cost refinancing (our exploits were recounted in the refinance megathread). When rates were dropping, every 3-6 months I would do a no-cost refi but choose an option where they gave me a credit of $1k-3k for a slightly higher (usually 1/8 percentage point) rate. Various lenders probably paid me well over $10k in credits over a few-year period. It was unbelievable--not only would I lower my rate at each refi, but they actually paid me!fantastic rate. Did you pay a lot in closing costs to refi @ 2.0%?
My last refinance (after having done several) was a couple years ago when I got 2.0%. Very soon thereafter, savings/CD rates shot up to 4-5% and have been there ever since. No way am I paying off my mortgage.
Now in hindsight, if I had known that at the time of my final refi, rates were going to start permanently increasing, I suppose I would have taken a little less cash back on that last refi and actually gotten a rate of 1.875%. (This was for a 15-year fixed.) But I'm still way ahead, and as you said, 2% is still fantastic.
Statistics: Posted by grogu — Tue Feb 06, 2024 12:12 pm — Replies 298 — Views 17465