james and i refinanced our house today (technically we just signed all of the papers to lock in our interest rate and activate the float down until april 11). we never really thought much about refinancing since we just bought the house in december and don't really qualify for any of the special packages obama is offering. however, james' boss just refinanced his house at 5% and is saving thousands of dollars with the lower interest rate, so we decided to make an appointment with our loan officer at arvest and see if refinancing would be beneficial.
what do you know, refinancing will save us thousands as well! even though our interest rate was not bad, we locked into a 4.5% rate today! (15 year fixed with no origination fee). my advice for all homebuyers is to look into refinancing because it could save a lot of money in the long run. if you do not currently own a home, now is prime time! home prices are great, interest rates are at all time lows, and the $8000 first time home buyer credit is a huge plus! now i sound like an annoying sales person, but i promise i have no ulterior motives.
time to hangout with the basketball wives club. i have not forgotten to write about james' and my big news, but it got a little more complicated (in a good way) today with another offer. until all decisions and dates are finalized, i cannot say anything, but i am really excited. love yall!