# Poll. What is yourcurrent  mortgage  interest rate

**URL:** <https://boards.straightdope.com/t/poll-what-is-yourcurrent-mortgage-interest-rate/549552>\
**Category:** In My Humble Opinion\
**Created:** [August 7, 2010, 10:28pm UTC](https://boards.straightdope.com/t/poll-what-is-yourcurrent-mortgage-interest-rate/549552 "2010-08-07T22:28:42Z")\
**Posts on this page:** 1\
**Page:** 2

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**Author:** ![Mama\_Zappa](https://avatars.discourse-cdn.com/v4/letter/m/71e660/32.png) [@Mama\_Zappa](https://boards.straightdope.com/u/Mama_Zappa)\
**Post date:** [August 10, 2010, 10:25pm UTC](https://boards.straightdope.com/t/poll-what-is-yourcurrent-mortgage-interest-rate/549552/21 "2010-08-10T22:25:34Z")

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> [@RTFirefly](#):
>
> Refinanced to 5% back in 2003; not sure what the differential is where it makes sense to refinance again. We’ll have it paid off in 6-7 years anyway.

I’m seeing about 4.5% now. We were at 5.75% for 5ish years (from 2003) and then went down to 5.125% a year ago. We’ve got enough time to pay that it’s worth considering refinancing if we can get 4.5 percent now (it’d save us 150ish a month) but it’s not dramatic enough to be a slam dunk. Last year’s refinance saved us nearly 350 a month.

In your case I’d consider it anyway, if you continued making your current payment or at least paid down the new loan over a 6-7 year amortization vs the planned 15 year payout (assuming you refinanced to a 15 year loan). It might be significant.

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