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@inuyasha8629 Wow, that's very high. I got mine renewed at 5.02% for 3yrs this month. The rate was after the Jun rate hike, otherwise it could be 4.8%.

@bri54rey Seems like the bond market thinks it's another year before the first cut. So it will take 2yrs before enough cuts are made to 4.9%. With a lower rate now, you pay more towards principal and less on interest.

@flipflip Unless there is a systematic event...otherwise the drop will be very orderly to get a soft-ish landing. At least that's what the central banks are looking for. The big issue is the fiscal deficit that is stimulus for the economy. And we also have record immigration and visa students to...

@flipflip Ugh...he is already paying 5.7% today and it will be 5.95% soon. It will take 3 rate cuts to match 5.3% fixed.

@londonn 1% diff or 4 0.25 cuts...I think this level of cuts will happen after another year or so. If it's a 3yr....that's amazing deal. For 5yrs...you probably lose in year 3-5.

@resjudicata Yeah, extra payment can do the job too. It sucks but it is what it is.

@resjudicata $310k mortgage at 6.7%/25yr amortization for 3yrs...monthly payment $2114 with total interest $60k and principal $16k. Fixed 5.3% comes out $1856/month and total interest $47k and $19.5k principal. $260/month x 36 = $9360. $13k difference already. You will need very steep rate...

@resjudicata Shit...you should switch to 2-3yr fixed and probably still come out ahead.

@don720 You are already paying higher than 6%? Good luck riding this out...