Fed Rate Cut=Another Good Time to Re-fi?

[El Justo]

simple enough

of course, one's existing interest rates and mortgage types are precursors. however, assume that i'm operating off an existing note w/ a fixed rate that is a smidgen higher than the newly announced rate cut.

so i ask the serious-minded folks here whether they think it might be high time again to refinance.

i know there are other variables involved like closing costs and the like. but let's keep them out of the equation for now. what i'm looking at is a prognostication of the fed's future interest rate cut/hike behavior.

will the rate continue to go down over the next year or so due to the attrocious real estate market?

or will wall street focus its attention to the stock market as it traditionally has during periods of real estate downturns?

i have a very, very good fixed rate on my primary mortgage note. and i have a so-so rate for a HELOC the wife and i took out to finish up some home improvements. so what i'm interested in would be to re-fi the HELOC at a lower rate. i mean, the note is young - probably less than a year. so now may be the time; especially in connection w/ the rate cut.

opinions?

 

[JollyRoger]

I don't think there will be any more significant cuts in the near future. In my opinion, the cut was a half point instead of a quarter point to get it over with.

 

[Masquerouge]

what have you got to lose, besides time, trying to refinance it?

 

[El Justo]

nothing really, i guess. it'd be more a matter of good timing than anything else.

 

[JerichoHill]

The enviroment is still one of rising interest rates. This was a short-term panic move, and I'm very unhappy with it.

You should always lockin at a fixed rate regardless

 

[joycem10]

Seems to me that there are too many inflationary pressures for another rate cut any time within the next 6 months.