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Locking in a lower home mortgage rate. (Personal Finance) (Column)
From:
Healthcare Financial Management
| Date:
February 1, 1992| Author:
Kistner, William G.
| COPYRIGHT 1992 Healthcare Financial Management Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group.Copyright information
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Mortgage rates have been hovering below 9 percent since the latter par of 1991. While some economists predict that rates will go lower, others are growing concerned that rates may have bottomed out. For homeowners with high fixed-rate or adjustable-rate mortgages, now might be a good time to refinance.
Quantifying potential savings from refinancing is complex. It involves determining whether the current value of after-tax savings from a lower interest rate exceeds the up...
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