Shopping For Low Rates While Refinancing
Refinance an adjustable rate mortgage (ARM) with interest rates as low as they are today is a wise decision. If you can't decide what new rate to pick to refinance your home loan, you have to make a decision that best fits your needs for the next five to seven years. With historically low interest rates, you need to pick the right interest rate and loan term. During the process to refinance your loan, you may want to negotiate for a better interest rate with your lender or find a new lender offering a lower interest rate and lower closing costs.