Mortgage Rates on Rental Properties - What are you seeing now?
Question:
In today's market what mortgage rates are you finding when refinancing your investment properties?
Why I'm Asking:
I'm in the processing of shopping around rates/APR to refinance some rentals and put the equity back to work. I'm beyond 4 mortgages so my my recent offer was 5.3%. In the past I've paid 0.5% to 1% above the primary residence mortgage rate, but the current rate is 1.6% (5.3%-3.7%) above the primary residence mortgage rates. What rates is everyone else finding for cash out refinancing on their investment properties? (Especially for those who have more than 4 mortgages).