A recent article posted by CNN Money notes that mortgage rates are dropping to the lowest rates in 15 years:
“The low 15-year rate meant that homeowners could book substantial savings by refinancing from their current 30-year fixed rates. Homeowners with 5% 30-year mortgages who switch to 2.6% loans 15-years would pay $21,000 in interest for every $100,000 borrowed over the course of the loan, compared with $93,000 in interest on the 30-year loan.”
http://money.cnn.com/2013/04/25/real_estate/mortgage-rate-record/index.html
Have you refinanced your mortgage and did it help save you money?
If you aren’t sure if refinancing is right for you, ask your questions here.
Or contact The First National Bank and Trust of Newtown at [email protected] or 215-860-9100.
