refi rate on rentals - horrible?

[Kevin L.]

I've been thinking about refi my rental properties but I'm getting pretty bad rates. I've been quoted 4% or 3.875 for 30 year fixed for rental properties with less than 70% LTV and loan balance of mid 150K. Is that the going rate now? For primary, I'm getting close to 3%!

[Jacob Sampson]

Its funny how everything is perspective.  The idea that 4% or below is considered a bad rate.  I think that is a great rate.  You will always pay more on an investment property than for your primary mortgage because the bank is accepting more risk on the investment than they are on your personal home.

What is your reason for wanting to refi?  To pull cash out or just take advantage of lower rates?