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If I refinance will my rate go up?

by masonll704 from Cherrylog, Massachusetts. Nov 8th 2017 Reply


Joe Metzler (JoeMetzler)
#18 ranked lender in Minnesota - 3,727 contributions

Maybe... Depends on what your rate is today, depends what term you want (15-yr, 30-yr), depends on credit... All sorts of things. Having a rate go "up" on a refinance doesn't make the refinance bad. Refinancing just needs to make sense for you and your individual situations, regardless if the rate goes down or up. For refinances in MN, WI, or SD, visit me at www.MortgagesUnlimited.biz

Nov 8th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,414 contributions

More info needed.. Rates are always changing and I have no idea what your current rate is.. so it's impossible to say.. but as a rule of thumb.. refinancing rates are no different than if you purchase.. However, if you are doing a cash out refinance, then pricing would be higher.. Also, if you are paying mortgage insurance, then the premium is slightly higher for refi's vs. purchase. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Nov 8th 2017
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