If you re-extend from 15 years back out to 30 years, that might reduce your monthly payment by 30 percent, ... If there isn't a likelihood that you'll pay off your mortgage, the re-extension of the term of your loan could measurably improve your cash flow. |
If you're a good credit borrower you can challenge fees if they seem excessive. |
If you're making a pre-payment on your mortgage principal, ultimately you'll pay less interest, |
If you're the gambling sort, you could get into an interest-only product and bet that the market will build equity for you. |
If you've already got one set up, you're good to go. |
If you've refinanced in the last 18 months or two years, this movie's a rerun. Rates aren't at compellingly low levels. |
In many markets, it's possible to borrow at prime or even a quarter to a half a percentage point below prime. |
It certainly could cause a change to the marketplace, ... But you're trying to talk about whether the 14th card might fall when first one hasn't fallen yet. |
It doesn't sound like either of them got a particularly good deal. |
Lenders are allowing people reasonably unfettered access to their equity. |
Leveraging yourself out at a time when (home) prices are very high certainly could set you up for difficult times. |
Listing the person with the higher credit score as the primary borrower, ... may knock as much as two percentage points off the interest rate. |
Mortgage markets have been so flush with cash that home buyers are able to layer one risk on top of the other. It's possible to borrow more than the value of the home, put in no money of your own and pay a minimum monthly payment. |
Mortgage rates come down when fixed-income investors think the economy is slowing, not because the Fed cuts rates. |
Most borrowers have some financial cushion so the impact won't be immediate; spending an extra $380 is manageable at first. But it's safe to say there are some who will find themselves in budgetary difficulties a year or two down the road. |