Refinance Home Loan Mortgage and Mortgage Refinance How Interest Rate Changes Affect Mortgage Rates Mortgage rates depend on the interest rate the government charges to lend money to banks--the federal lending rate. Variable mortgage rates are often a fixed percentage above this "prime rate." Long term and short term treasury bond rates also indicate the trend in long term (30 year fixed rate) and short term (e.g., 7 year fixed with balloon payment) mortgage rates. If the 30 year treasury index is higher than the 5 year treasury index, the overall trend in interest rates are upward. If the 30 year treasury index is lower than the 5 year treasury index, the overall trend in interest rates is downward. What if interest rates are headed upward? For a $100,000 loan, for every quarter point increase in a mortgage rate you will pay about $20.83 per month more in interest charges. For a $100,000 mortgage, you will pay about $416.67 per month in interest if the mortgage rate is 5%. If the interest rate increases to 5.25%, you will pay about $437.50 per month in interest charges. That's an increase of $20.83. So, if interest rate are increasing, there is increasing pressure to get a consolidation loan soon. What if interest rates are headed downward? On a $100,000 mortgage loan, every time the mortgage rate drops by a quarter point, you will save about $20.83 per month in interest charges. Let's say you have $30,000 in credit card debt at 18%. This is costing you about $450 per month in interest charges. Consolidating this $30,000 debt into a 5% mortgage would cost you $125 per month in interest. You would save ($450 - $125=) $325 per month in interest charges. It would cost you $325 per month to wait for a better mortgage rate deal. This simply is not worth it. After you get a consolidation loan, if mortgage rates continue to decline, you can always refinance you mortgage at a lower rate and get the benefit of lower interest payments. It would still be smart to consolidate as soon as possible. Refinance Your Home Mortgage You are more than a credit report. Banks won't loan you money if your credit is less than perfect. Finance companies may, but at sky-high interest rates. You'll find that our loans are easier to qualify for, and our interest rates are competitive. There's more than one reason to re-finance your home. Refinancing and consolidating your debt can lower the total amount you pay out each month. You can even arrange to have extra cash. Here are some reasons you may want to think about: Consolidate your high-interest debt. Consolidate high-interest debt such as credit cards. Your overall monthly payments will be reduced and may even be tax deductible.* Get extra cash. Refinancing can give you extra cash for the things you've always wanted to do. Like taking that long-deserved vacation, or paying for a college education. It's your choice. Home Improvement Loans. Fix the roof, purchase new kitchen cabinets, or remodel to increase the value of your home. You'll get your money fast. We close loans in as little as 10 days. 24 hour preliminary approval. You'll know if you qualify in as little as one day. Take a 30-day break from payments. Your first payment is usually not due for 30 days or more. The care you want. The service you deserve. Your loan officer will take care of you through every step of the loan process ? from application to approval. We're different - and it's a difference that can save you time and money. Hard to prove income. We have home loans that don't require traditional income documentation. Too much existing debt. Conventional lenders will turn you down if they think you have too much debt. Our flexible lending standards let us look at you as an individual. Less-than-perfect credit. We specialize in debt consolidation even if your credit is not perfect. You're not alone. We can help. Bankruptcy or Foreclosure. Even if you've had a bankruptcy or foreclosure in the past, we'll work hard to help you get the cash you need. Free Resource Now you CAN Get Credit Card Debt Help! Here is your FREE credit card debt eBook when you subscribe to our Credit News and Tips newsletter. Learn how to end your credit card debt with this free eBook (valued at $27) You will learn: Why moving credit card balances to low interest credit cards can save you money (page 52) How to use consolidation loans wisely (page 50) The three ways to pay down your credit card balances and which is best for you (page 69) How you can make "interest" work for you (page 17) How advertising influences you to spend more money and what you can do about it (page 10) Why the rich get richer and the poor get poorer and how you can move to the rich side (page 17) How the "Can I afford the payments?" culture has changed the way you think about credit and debt (page 22) Why banks are not necessarily your friend (page 23) Why written goals will save you money and how you can start writing your own goals (page 30) The only type of plastic cards you should carry (page 35) How to live like a millionaire for less than you think (page 24) The importance of budgeting and making targeted spending goals with easy to follow examples (page 36) How to create a personal budget (page 61) How to contact your creditors to reduce your interest rates (page 74) What to watch out for with credit counselors (page 77) How you can earn more money than you do now (page 82) All the resources you need (page 104) ... and a whole lot more You Need this Free Credit Card Debt Help Resource Email Confirm email I prefer to receive emails in HTML format Credit Card Debt Help Credit card debt questions and answers Learn the simple facts you need to know about credit card debt. Let the facts work for you. Are you worried over mounting bills? Here are the sure signs you have a credit card debt problem. Why are you paying so much high interest credit card debt? This is what you are being told that makes you willing to spend. Credit Reports Correcting mistakes today can help you tomorrow. Mortgage Refinancing Reduce high interest debts. Get lower interest rates today. Debt calculator How many months will it take to eliminate your debts? Get your guaranteed Mastercard--re-establish your credit Get guaranteed credit cards and use them wisely to re-establish good credit. Worry making you lose sleep? If you have a hard time sleeping at night, perhaps we can help. Why you spend so much Everyone else wants you to spend. What should YOU be thinking? Control your spending Start with a personal budget. Find out where you are financially and where you need to be. Consolidation Loans Reduce your interest payments AND get a tax break. Act now before interest rates increase. A big step is to get lower interest payments. Take two minutes to fill our our no obligation form. A debt counselor from a non-profit agency is waiting to help you. Eliminate that mountain of bills and cut interest payments by more than half. There is nothing to lose. Back to the main page of Credit Card Debt Help | Become Debt Free National Cash Advance Collection Letter Example Free Credit Report And No Membership 3 Bureau Credit Report Unlimited Access Gas Prices Got You Down? Save 10¢ per gallon from now on! Buy Gas at a Discount Copyright © 2001-2007 by Robert Sherman All rights reserved. Privacy Policy