Quote:
Originally Posted by RubberDuck
Looking for some opinions on this.
I am two years into a 5 year fixed at 3.9%. My lender has offered to renew for another 5 years at the same rate of 3.9%. No fees or anything.
I know there are slightly better rates out there right now but the payout penalty would not make it worthwhile to change lenders at this point.
In todays market, would you take it or leave it hoping for a better rate come renewal time in three years?
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You can currently get a 5 year 2.99% and a 10 year 3.89%. If you sign this, somewhere, some lending institution employee will be chuckling to themselves at all the money they just stole from you.
Why do you think they approached you? Because they are trying to help you out, from the goodness of their hearts?