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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (1878)	5/26/2003 12:18:53 PM
From: GraceZ	Read Replies (1) \| Respond to of 4905

That is the open ended ones (home equity lines of credit) and some of the closed ones (fixed payment). OTOH my husband owns a rental property that he has an adjustable on and over the 17 years he's had the loan its saved him a considerable amount of interest. There was maybe one 2 year period where he paid a higher interest rate than the average rate over the period, most of the time he's a half to 3/4 point below the low rate you could switch to. Also he's never had to refi so there is a certain amount of savings there since it always costs something to refi even if the mortgage company advertises no cost refi. We have a sales contract on it now so we made it through fairly well, but I don't expect the period we just went through to repeat any time soon (an impossibility).