I suspect Brewer will be able to help with this one. I remember traditionally you'd get ~0.5% off the rate of the loan by doing a 15 year vs. 30 year mortgage, made sense. Now I see 15 year rates the same or even higher than 30 year. What's up with that? I saw a 30 year @5.0% with less than a point in fees and 15 year @5.375% from the same lender!
If the 15 year loans were giving the traditional discount I'd be shopping right now. But I'm in a 5.125% for 20 years so the current offerings don't make sense yet.
If the 15 year loans were giving the traditional discount I'd be shopping right now. But I'm in a 5.125% for 20 years so the current offerings don't make sense yet.