Refinancing question

[Wish-I-Were-Fishn]

When it comes to refinancing, does it pay to shop around, or are the rates pretty much the same?

[BoxMN]

Shop around. Also contact fisherdog here on FM. I used him in a few transactions so far and all has went well and he got me lowest rates. Good luck, the rates are low now, it would help especially if you aren't that low already.

[LightningBG]

I always get mine from Mark @ Bremer in Woodbury.

[Tom7227]

Shop. When my kid had to refinance she got info from 4 different firms. It got so complicated that I ended up putting together a spread sheet to compare terms. The real kicker was what happened when you took their sheet that listed all the closing costs. It was an eye opener.

Then another treat was what happened when we went with a company only to find out that the people that did the documents were totally incompetent. I'm a lawyer and it took my several hours to go over the paperwork and find all of their screw ups. We ended up forcing the mortgage company to use a different closing agent.

[Powerstroke]

The shopping really pays off in the fees. Rates do vary and different lenders will have different rules about who they offer the best rates to. The fees vary widely from lender to lender. Some charge more than others and some charge fees that others don't. CHeck it out.

[hanson]

I refinanced my house with "Fisherdog" (Peter Prodanov) at Valesco Mortgage as well. I'm in the Cities, he's in Detroit Lakes... did the entire refinance through e-mail, phone, and mail for signing stuff. Closed here in the Cities. Was really pretty effortless. I'm now at 4.375% on my 30 year as well.... was about as low as I was going to get.

[Triple_D]

Always shop... I closed in Nov. with a 3.875 on a 20yr.

Here's a tip. Go onto the Yahoo Finance page and start tracking the 10 year bond rate on the main page, if it starts to fall, 30 year Treasury bond prices start to rise and mortgage rates will start dropping, half of getting a good mortgage is good timing, the other half is a good loan person.

[delcecchi]

And it seems like rates have nowhere to go but up. When the US Federal Reserve stops buying bonds in June, it seems likely to me that rates will go up some.