Читать книгу Horse Economics - Catherine E O'Brien - Страница 29

♦ The prime rate is the interest rate banks charge their best (preferred) customers. Changes in the prime rate influence other rates, including mortgage rates.

Refinancing Your Mortgage

When 30-year mortgage rates are low (as they are at the time of writing), you should consider refinancing to “lock into” the lower rates and reduce your monthly payments. You can also refinance for more than the balance on your first mortgage in order to obtain cash to settle other debt, such as credit card loans. The interest on your mortgage is tax deductible, whereas interest on personal and automobile loans, for example, is not.