Adjustable rate vs fixed 7.57% home equity loan? - fixed rate equity line
I have a line of credit fixed rate of 7.57% to 64,000. With the declining sentiment variable interest rate that is the transfer that is 5.8%. On Tuesday there was a reduction in the May 5 to 1% more. Would it make sense to transfer with a variable interest rate. I would save about 100 a month in interest, that the principle would apply. Also how long the lower rate, stay calm and multiply, if someone could close at a lower rate?
Friday, January 8, 2010
Fixed Rate Equity Line Adjustable Rate Vs Fixed 7.57% Home Equity Loan?
2 comments:
7 is the real danger. Today that's floating rate seems really Rosie, but on the whole line, which shows out of control - one of the main reasons there are for many years.
the best way to know budget exactly how much will come out of his pocket every month - no surprises.
You can be sure that prices remain low (is) with a variable interest rate. Risk if you have any questions about the safe and reliable source of income for the future, so it is really high.
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