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As an aside, what is the interest rate on a fixed-rate 30 year mortgage in the US right now?
Would you lend your money for that time frame with no inflation protection? Of course not. Neither would a bank lend their own assets with that kind of risk.

My brother who lives in California called me yesterday saying he'd found a no-points no-costs 30-year fixed mortgage with 2.5% interest rate. He called USAA who said the best they could do was 4%. The 2.5% guy (in Atlanta) said his company was selling $500M/month worth of mortgages, and he was getting his money from investors who were willing to loan at that rate. Better than 10-year treasuries, right?

So I got the contact information for my brother's guy, but on a whim I called the mortgage broker I'd used eight years ago (for my Virginia house), who works for a large mortgage company. He is a good guy, retired military officer. He said he could definitely get 2.375%, and most likely 2.25%...again no points, no costs, 30-year fixed.

(filling out my refi application tonight)
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