Unless you have been living in a cave, you are probably aware of the Federal Reserve’s recent interest rate cuts. While it doesn’t have a direct effect on mortgage rates, recent weeks have seen some of the lowest fixed interest rates on mortgages in years. When rates are this low, there isn’t much of a reason to go for an adjustable rate mortgage. Rates are likely near the bottom, and from here we likely are only going up. Just ask anyone with an adjustable rate mortgage that is now resetting how painful that reset and the resulting increased payments can be!

While we have heard a lot about lenders tightening standards, there are many lenders that are still actively doing refinancing mortgages. One such Mortgage Lender is countrywide-refi.com, which is a division of Countrywide Bank. Take a look at what is currently available. You may be surprised the difference a refinance can make in your payments.

This entry was posted on February 19, 2008 at 7:50 pm. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Posted in Debt Home Ownership by BillyOceansEleven No Comments Yet