Fed interest rate mortgage, please help.?
Hello, here’s the situation: I currently have a mortgage of $ 159,000 at 6% next year. This is a 30-year mortgage, but I have to pay extra each month, and I’m about 23 years I also have a $ 25,000 mortgage at 7.25%. I pay $ 25 000 loan within 5-6 years Planung.Ich went today to refinance can, she said “fixed rate at 5.75%, 30 years.” I can combine the two, and either pay or pay my $ 25 000 that I pay now, and only the $ 159,000 refinancing. They charged me $ 2,000, including costs. If I wait and decreases after the closing, I can pay $ 700 more for the rate senken.Soll I expect that the 30 cuts from the Fed, they have to keep, or throw rate? In this way, I’m not going to pay $ 2,700 for the lower rate of erhalten.Was you think, please help me. Any advice is needed. What impact will the rate cut on my situation? Thank you! Tim