Refinancing (with current high interest)

[Josh Raikin]

Interest rates are quite high now (>5.5% 30 year fixed) I'm finding. Even without a guarantee on if/ when they'll go back to how they were a month or two ago (~4.3% 30 year fixed), if I were to invest now using a current interest rate on a 30 year fixed loan for an investment property (SFH), what information do I need to know about possibly refinancing for better rates in the near or long term future?

- what fees are associated with refinancing?

- can I refinance to lower my interest rate?

- any other tips/ info?

[Matthew Crivelli]

No one has a crystal ball but I think most of us feel that rates are only going to continue to rise for the foreseeable future. Long Term? Who knows for sure? If the property can cash flow at the current rates and rents are expected to rise then what does it matter?  Plus if the rates to fall back to historic lows (not likely) you can always refi. 

My advice... lock your rate in now.