02-09-2012, 09:44 PM
When you refinance, oftentimes you can refinance with your existing lender through a process called reassignment, which sidesteps an expensive mortgage tax.
The existing lenders know this, of course, so the interest rates they offer on a refi can be a little higher and still save the homeowner money.
This does not explain the divergence of the rates you're looking at. I have no idea what would cause that discontinuity, or why they traded so similarly beforehand.
The existing lenders know this, of course, so the interest rates they offer on a refi can be a little higher and still save the homeowner money.
This does not explain the divergence of the rates you're looking at. I have no idea what would cause that discontinuity, or why they traded so similarly beforehand.