Does a new home loan make sense?1 of 9Why refi? There are at least seven reasons to refinance a mortgage. You probably can think of the first one -- to get a lower mortgage rate.The average interest rate on an outstanding mortgage at the beginning of 2010 was 5.979 percent, according to the Bureau of Economic Analysis. However, lenders today are offering rates well below that benchmark, making a refinance a no-brainer for many.But low rates are not the only motive for refinancing a home loan nowadays. The following are good reasons to consider a new home loan.<< Back to "What's hot with mortgages" Related Articles:Conventional refinance?'Cash-in' refi takes offLow score = high paymentLow cost refinanceRelated Links:Refinance home or move?How to kill a loan closingMortgage calculator 101Best mortgage for you?advertisement
Why refi? There are at least seven reasons to refinance a mortgage. You probably can think of the first one -- to get a lower mortgage rate.
The average interest rate on an outstanding mortgage at the beginning of 2010 was 5.979 percent, according to the Bureau of Economic Analysis. However, lenders today are offering rates well below that benchmark, making a refinance a no-brainer for many.
But low rates are not the only motive for refinancing a home loan nowadays. The following are good reasons to consider a new home loan.
Mortgage rates giving you motion sickness?
Let us watch for you. We'll tell you when they hit your target.
