Thursday, January 15, 2009

Savings Tip-Mortgage Rates Drop!

Hello All-

If you haven't checked into refinancing your mortgage to a lower fixed rate and you are at 6% or more....please call your mortgage lender and check on rates!

This is a substantial savings with rates hovering in the high 4's to low 5's right now, that can add up to several hundred dollars of savings each month!

The rule of thumb on this is if you plan to stay in your house for at least 4-5 years or longer and you will save the cost of fees to refinance in 1 year, it is worth the initial cost.

I was at 6.75% and just lowered to 5.25%, a substantial monthly interest savings!

This is an easy way to save money!

Happy Saving!

Summer H.

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