A little corner to share thoughts on refinance mortgage
Some banks are now requiring a credit score of 700 or higher to be eligible for the low rate mortgages. Since the government announced that it would buy a large number of mortgage backed securities, many expect that mortgage rates will continue to be low for the next quarter. It would be wise to get the ball rolling, if you are considering mortgage refinancing. Most financial advisers tell you that mortgage refinancing is a good decision if the rates are at least 1 percent below those of your original mortgage. In addition, you need to examine your own budget and goals to know if mortgage refinancing will be worth it to you for the time you plan to own the house.