Anyone care to share your mortgage interest rate? We are at 2.75%. We at one point had a 5 year arm, then when that expired we were very lucky to get a rate at around 3%, which has continued to drop every year. I feel almost scared to type about it because I feel so lucky compared to the horror stories we have heard! What is your current rate, and which country do you live in? We are in the States.
Wow, 2.75 is awesome. Ours is 4.5 I think. We are in the states, in Texas. I am glad we get to deduct mortgage interest, so when you get to deduct that then basicallly you have a lower rate.
The rate of interest on the mortgage of this house is quite low because I am a bank employee and that housing loan is one of our privileges. This house was actually bought via the housing loan of my husband when he was working with another bank. After some years, I found out that our bank charges a lower interest rate so I had this house re-mortgaged. Now my finances are stable regarding the mortgage payments.
I only just got a mortgage at 4.125 -- that's pretty good for a US fixed rate loan. In the US rates can expect to start going up pretty soon and stay up for a while. So if anyone is considering making the leap, sooner will be better than later. There are also still a few post-recession "short sale" properties around that can be a very good deal.
I refinanced a couple of years ago and got 3.75. It's a fixed rate. I would never do variable unless I was a person who moved around a lot, which I am not. I'm pretty happy with the rate I have. I do pay a little extra every month to bring down the balance even faster.
