In The News...
There were no major economic reports released today and the week's calendar is on the light side. The major Stock Indexes are trading lower as investors take some profits due to record high levels....
If interest rates fall below your current mortgage rate, refinancing
may be a great idea. The old idea that rates must be 2 full percentage points
below your existing loan is not true. A drop of as little as 1/2% could save
you thousands of dollars.
A variety of loan terms, no-point rate options
and lower closing cost loans have greatly decreased the rate difference needed
to make refinancing profitable.
We as consumers spend substantial amounts
of time trying to make our savings and investments earn more. One avenue which
is sometimes overlooked is seeing how much we can decrease our debt payments.
Since a mortgage is usually the largest debt we have, it pays to concentrate most
on reducing that payment first.
Americana Mortgage Group
1615 Northern Boulevard, Suite 404
Manhasset, NY 11030
Phone (516) 627-0200
Fax (516) 627-0229