Interest Rates at Record Lows!

With the interest rates being so low, now would be a great time to refinance your house if your rates are at least a point higher then what you would get when you refinance. There are a lot of mortgage companies offering no closing costs which is a great incentive to refinance. If you are planning on staying at your house, then getting a shorter term would be your best bet. If you are waiting for the real estate market to bounce back and you are planning on selling, or if you are currently selling your house, then going with a 30 year fixed or a adjustable would be your best move. The bottom line; if you are planning on selling soon, then going with a shorter term loan won't really help you to pay down the principle that much and it would increase your monthly payments. Why put more money in to the house then you have to? If you are planning on staying for a long while, then the shorter term loans would really help you to pay a lot less interest. Evaluate your situation and then make your move! To your financial wealth.

I wish everyone financial and emotional harmony.

Gary Kohnke