Is the Juice Worth Ye Ole Squeeze?
Boring Mortgage News
Not so fast, buster
More and more, I’m hearing of people getting solicited for refinances: “Rates as low as blah blah blah”. Sure, they might seem pretty, but is the juice worth ye ole squeeze?
Let’s break it down: If you’re going to refinance and a lender is saying, “We can lower your rate by 1.5%! When do you want to sign?” and then presents you with OUTRAGEOUS fees, is that going to be worth it? Probably not.
One thing I’ve noticed is that there’s always a catch, and if your lender isn’t sitting down and reviewing all the fees associated with a refinance, well, I think the kids are calling that a red flag.
Another thing that I’m always surprised about is lenders throwing on “aggregate adjustments,” which subtracts away from the total costs.
Why would someone do that? Wouldn’t you want to see what the total costs are and leave that to your closing attorney?
Rarely have I ever seen this with any of my local compadres at different companies however I’ve seen this A LOT with those big box servicer lenders.
Needless to say, if you stay local, the chances are you’re going to have someone who is looking out for your best interest.
If you do find yourself in a “This is too good to be true” moment, send me the estimate. You and I can review it to see if the juice is worth the squeeze or if it’s a rock cleverly disguised as an orange.
Less Boring Mortgage News
As I was gaslighting my neighbor into believing we could cut down a 100′ pine tree, “no problem”, I noticed the average for the 30-year fixed rate is pushing the high 6% range.”
Keep in mind that this is a national average, and can change a bunch based on down payment, credit, property type, occupancy type, and program type. If you want to dive deeper, holler at me.
Source: HousingWire & Mortgage News Daily. This is not a commitment to lend and does not guarantee the availability of any particular product or interest rate. Rates/terms illustrated may not be available through BankSouth Mortgage.
Blog post date: May 18, 2026
