Credits and mortgage page 14
What is the market size for products and services in the United States?
What products or services should i deal for a new commer in a business world like me?
What direction will mortgage rate go for the next week?
As of today Sept 8,2008, what is a 'good' mortgage rate? In California...Thanks?
I have a good credit score (740) but have outstanding medical bills...can I still get a mortgage?
Is a 720 and 740 credit score good?
I have credit score of 740 is that good?
Should I refinance my 5/1 arm mortgage due to go variable in 2009?
I just reached end of 5 years of 5/1 ARM mortgage, so now i'm faced with 2 choices, i can either lock for another 5 years, for 4.5% rate, or stay adjustable annually, currently 3%. which one is a better choice? I'm not likely to move in 5 years.
Tigger, I agree partly with S. I will not suggest anything directly but give you some probabilities. The prime lending rates are very near to 0% now. Federal Banks kept the prime lending rates down to so that banks can slash their interest rates down and increase demand. Now Federal Banks cannot sustain this for long. The moment the economy comes out of the ICU (Intensive Care Unit) the rates will be hiked. But then again the economy is not coming out of the hospital in a hurry. It easily take another couple of years. So if I was you then two important points would have influenced my decision. 1) How long do I have to pay off the debt? 2) Can I afford a 4.5% immediately? If I had an year or two of the mortgage left then I would definitely choose to keep it floating. But if I have 4 - 5 years left and if I can afford 4.5% from now then may be I would seal the deal. I've created a forum to discuss such issues. It's called Aarti Forum ( ). If you liked my advice then you will like the forum because the forum is full of people like me. The forum is COMPLETELY free... Amartya Ray My Profile: http://aarti.net.in/amartya.html
Refinance at a FIXED rate. I would prefer a 10% fixed rate to ANY variable rate.
Why do that? You can get 15 yr mortgage for 4.250 fixed or 30 year for 4.75%. These quotes are from my credit union. Certainly if you shop around others should be comparable.
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