Well after my interesting sports car shopping experience the other day I gave it some thought and decided to refinance my condo instead of geting a race car right away. This way I can save a lot more money over the long term and lower my monthly mortgage payment at the same time. Therefor I will be able to save up more money in less time while increasing the equity in my home. I figured I should do it now before interest rates go back up.

I think this is a better way to go that way I won't get in over my head in debt when I do buy a sports car later on. Before I was at 7% for 30 years. My principal was 50k. I just locked in a new loan at 5.5% for 15 years and I am putting down my 25k, leaving my principal balance at 25k. Aharon told me he got like 4.25% on his interest only loan. What kind of interest rates is everyone else getting? Thoughts? Opinions?