November 12, 2006

Mortgage rates are continuing their downward trend this week, with the average rate for a 30-year fixed mortgage now at 6.31% (source: bankrate.com). This is in sharp contrast when over the summer, rates were hovering around 7%. While no one can predict where rates will go,
now may be a good time to refinance your existing mortgage and lock in to a lower fixed rate. Of course, you must take into account how long you plan on staying in your house. There are many options available, depending on your particular circumstances. Please call me for a free consultation if you are considering this important financial decision.