Economic trends come and go, and it sometimes
takes years to gain a historical perspective and make accurate comparisons.
But it appears that what is occurring right now across many regions of
America just might become the housing and mortgage equivalent to the dot.com
crisis we witnessed just a few years ago.
Dreamy Mortgage Interest Rates May Conceal Nightmares We all have gotten them, we all read them, and then most of us delete or ignore them. Low interest rate offers that seem too good to be true are careening about the Internet at break neck speed and some folks are becoming the victims of hit and run.
Interest rates are at historic lows again
and now is the time to consider refinancing any home loan you may currently
have, and getting into a Fixed Rate Mortgage. If you currently have a Fixed Rate Mortgage and the current rates are lower than when you took out the loan, then you should also consider refinancing. There are numerous loan and interest options around today, and the terms that are being offered are what the newspaper headlines are calling historic. No longer are just the traditional fifteen, twenty and thirty-year amortization plans available at these very low rates, but now forty-year mortgages are becoming the norm too, and are endorsed by both Fannie Mae and Freddie Mac.