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There is a general rule in the industry that states that if the present interest rate is lower than the mortgage by two percentage points, refinancing is something to consider. Mortgage lending competition is starting to turn the industry toward a looser rule of thumb. Those homeowners with good credit can get special deals on their closing costs from various lenders. In these cases, refinancing in order to achieve lower interest may make sense. Here is a rate table highlighting current rates in your area.
It's not a bad idea to consider refinancing your mortgage when interest rates are low. Since the interest paid on a mortgage is one of a homeowner's biggest expenses, it makes sense to look for ways to reduce it. But there are some ups and downs to refinancing a mortgage in a low-interest climate, and even some special refinancing programs that can be particularly beneficial for those who qualify.
For more information please contact
Vertuity Mortgage Inc
3200 Roblin Boulevard, Winnipeg, Manitoba, R3R 0C3
Ph: 204.888.HOME (4663)/ Fax: 1.888.245.9717
It's not a bad idea to consider refinancing your mortgage when interest rates are low. Since the interest paid on a mortgage is one of a homeowner's biggest expenses, it makes sense to look for ways to reduce it. But there are some ups and downs to refinancing a mortgage in a low-interest climate, and even some special refinancing programs that can be particularly beneficial for those who qualify.
For more information please contact
Vertuity Mortgage Inc
3200 Roblin Boulevard, Winnipeg, Manitoba, R3R 0C3
Ph: 204.888.HOME (4663)/ Fax: 1.888.245.9717