Refinancing - Fed interest rate cuts?

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What do folks think about waiting until Mar 18 (for next potential Fed rate cut) or refinancing now. I know the mortgage rates aren't directly tied to the Fed rates but some folks (including those that work at banks) think I should wait. I currently have a 6.0% interest only loan (no prepayment penalty) and the quotes I've received thus far range from 5.125% to 5.5% (for another 5/1 ARM interest only). Think I should wait or go for it?

Refinancing - Fed interest rate cuts?

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Refinancing - Fed interest rate cuts?

To refi from a 6% IO ARM to a 5/1 IO ARM to save .5% to .875% is ridiculous.

Maybe the people at the banks are telling you to wait because your refi makes absolutely no sense at all!

Refinancing - Fed interest rate cuts?

Wait not enough of a drop, and yoou may not see a full 1% drop by then either.

Refinancing - Fed interest rate cuts?

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