Don't restart the 30-year clock on a refi

Rates on 10- and 15-year mortgages now in the 2s

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For a guy who once begged for a home loan under 12 percent, I could not believe my ears.

"For people with decent credit and some equity, we’re quoting fixed-rate loans in the twos."

The conversation took place on a city bus, between two friends headed downtown for lunch. Local lenders soon verified the information. Better yet, family friends validated it by sharing their second-home example.