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August 29, 2006
Refinancing Adjustable Rate HELOC with Fixed Home Equity
As the Federal Reserve Bank continues to push the interest rate higher, homeowners are watching their adjustable rate mortgage payments inch up as well. One of the ways to stop your rising mortgage payment is to refinance to a 30-year fixed rate mortgage. "The plan is for the feds to keep raising rates until inflation comes down."says mortgage broker Mike Johnson. "Expect higher interest rates for home equity through 2006 and then we should see the feds pulling back the rates." We've already noticed a trend of home prices dropping because the rising interest rates prevent new purchasers from jumping as
From Refinancing Adjustable Rate HELOC with Fixed Home Equity
Posted by Ken at August 29, 2006 09:40 AM
