Mortgage refinance

MarvB

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Yep Tyler, pulled stakes and got the heck out of Cali....now jobless, homeless, and kinda liking it lol.
Retired in December and just sold the place in NorCal two weeks ago so right now we are in Central Oregon hitting a lot of rivers and a lot of breweries! Kind of just fishing our way across the state until something strikes our fancy or until its time to head to Idaho for elk season. Not even sure if I'm going back to use my California tag this year;)
 

1_pointer

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Yep Tyler, pulled stakes and got the heck out of Cali....now jobless, homeless, and kinda liking it lol.
Retired in December and just sold the place in NorCal two weeks ago so right now we are in Central Oregon hitting a lot of rivers and a lot of breweries! Kind of just fishing our way across the state until something strikes our fancy or until its time to head to Idaho for elk season. Not even sure if I'm going back to use my California tag this year;)
Congrats on retirement!! I think I could enjoy the vagabond life! Good luck and let us know where you land.
 

Backofbeyond

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Boise, ID
We just refi-ed, we went from a 30 year @ 4.25% to a 15 year @ 2.8%. We were adding an extra $500/mo for principle each month, and managed to keep the new payment under our monthly budget.

Next decision is do I slack off on my Roth IRA, and pump that into the mortgage principle? Would cut a couple more years off the end, and Boise is blowing up. Our tax appraisal jumped 15% this year, after jumping 10% the year before... My Roth is doing good, but sure as hell not pulling in 12.5%.
 

neffa3

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at the start of covid we dropped from a 4% 30-yr to 3% 30-yr, my sister was quoted 2.85% for a 30-yr a couple of weeks ago. I know my parents are slack jawed at the rates compared to when they had a mortgage.
 

bullbugle307

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We're in the process of refinancing right now. Sounds like we're going to lower our interest rate by a little over a percent to somewhere less than 3 percent. And we're moving to a 15 year fixed rate instead of 30 since we were already overpaying quite a bit on the 30 year loan.
 

MarvB

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Congrats on retirement!! I think I could enjoy the vagabond life! Good luck and let us know where you land.
Update to the story; just entered escrow...hope to have the new digs in 30 days! Ended up at a 3.15% lock on the 30yr with no points so happy with that. Will be calling Prineville, OR our new bus stop (well about 9-10 miles from there anyhow) and it feels good to be back in the junipers after 30+ years. Had wanted to go a little farther east but the missus doesn't do extended cold real well and if momma ain't happy....well you know the rest.
 

MarvB

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at the start of covid we dropped from a 4% 30-yr to 3% 30-yr, my sister was quoted 2.85% for a 30-yr a couple of weeks ago. I know my parents are slack jawed at the rates compared to when they had a mortgage.
I remember the first home I built I was tickled pink to get an 8.8% rate...anything under 10% back then was golden (around 1986) but still had to saddle up with PMI for a couple of years
 

neffa3

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I remember the first home I built I was tickled pink to get an 8.8% rate...anything under 10% back then was golden (around 1986) but still had to saddle up with PMI for a couple of years
I think my parents started at 13% about that same time.
 

MarvB

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They were, built the first one for $86k including the (small) lot in town and that was 1470sf. Would to have loved to kept it as a rental when I finally built the second but there wasn’t enough flow ($) and another kid on the way.
 

MarvB

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One of my buddy’s is a lender, he had said the nation’s avg peaked back in ‘81 at like 16.6%....sheesh!
 
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