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Six Degrees Of RefinancingNot always dependant upon lower interest rates, refinancing is a good idea under a variety of conditions. If you need to lower your monthly expenses, find some extra cash, or reduce your risk level, it's not a bad time to consider reconfiguring your mortgage.On March 15, Freddie Mac's weekly mortgage survey put average fixed mortgage rates on conforming 30 years loans at 6.14 percent, the lowest they've been all year. Last year, rates weren't much lower, down to only 6.10 percent for a brief period back in January 2006, according to Freddie Mac. With rates low enough to help consider refinancing, Matt Coffin, president of LowerMyBills.com, an Experian company, says there are some good reasons to confirm the decision. "Right now interest rates are low, but even if they weren t, there may be some people for whom refinancing makes sense," he says. "The reasons for refinancing can be as diverse as the home owners who use this tactic to help manage their finances," he said. Coffin said home owners need to first take stock of their financial health and weigh the costs of the current mortgage of the cost to refinance. Home owners also need an objective, or goal. Homeowners needing to sell their home visit 888SOLDin9 to talk with our Jacksonville FL partner about their personal financial situation. Our Jacksonville FL partner, Jim Tallent buys, sells, renovates and rents homes and properties in Jacksonville FL, Duval County FL and surrounding areas. click here for article |