Should I Refinance My Mortgage?
Having the advice of someone who is an economist from Quicken loans, is probably a little better than the advice I can get through my local connections.
So Bob Walters, from Quicken loans, if you say that “Homebuyers and homeowners looking for a new mortgage need to navigate this uncertain market carefully,” I will take heed. I’m not really looking for a new mortgage but for those of you that are, well…proceed with caution.
Richard DeKaser, chief economist for National City Corp., tells us that we as consumers should avoid that telemarketer offering refinancing. He says we should stick with known performers, so ask your friends for referrals.
He is also predicting, 30-year-fixed interest rates to grow from 6.25 percent to 6.75 percent over the next year, so if you have a “risky mortgage” now is the time to refinance, but not with that pesky telemarketer.
What do you think?
