Why are mortgage rates dropping?; When does it make sense to refinance home given our situation?

Watch Eric Newman’s commentary on what is happening in the mortgage industry with interest rates for home loans. Rates at 2011 lows right now. Apply online at www.GoNorthwestLoans.com, or call 503.698.5801
Video Rating: 5 / 5

Question by deucedown: When does it make sense to refinance home given our situation?
I was just wondering if it made sense to refinance our 30 year fixed 6.25 home loan. We have owned our home for 3 years and 5 months. What does the interest rate have to fall to in order for it to financially benefit us to refinance?? Any help appreciated.

Best answer:

Answer by Mr_Blue
I would compare your current monthly payment to a loan under current rates. The other thing to consider is potential closing costs on new loan. The other thing to consider is whether you intend to stay in your home for a while – like five years or more – especially if you have to pay closing costs.

Below is a link to a refinance mortgage calculator.

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IMPACT WRESTLING Post Show – Sting, Jeff Jarrett, Abyss; Which auto insurance companies will not cancel policy/raise rates if there is an accident?

The special guest on this week’s Post Show is Sting! He lays out how his new GM role in IMPACT WRESTLING, the upcoming Final Resolution Pay-Per-View and his involvement in the Steel Cage match between Jeff Jarrett and Jeff Hardy. Jeff Jarrett also appears on the show to discuss his match this Sunday. In addition, Abyss talks about his involvement with Immortal and his history with them. On Sunday, December 11, Direct Auto Insurance and TNA IMPACT WRESTLING present “Final Resolution” live on Pay-Per-View and online at TNAOnDemand.com from Universal Studios in Orlando, Florida. PPV events air on Time Warner Cable, Comcast, Charter Cable, Cablevision, AT&T U-Verse, Verizon FIOS, DIRECTV, Dish Network, Viewer’s Choice and more. Come back to impactwrestling.com every Thursday for the IMPACT WRESTLING Post Show. IMPACT WRESTLING Airs Every Thursday on Spike TV at 9/8 CST, check impactwrestling.com for international listings.

Question by Christy H: Which auto insurance companies will not cancel policy/raise rates if there is an accident?
I am comparing prices for car insurance. I have had State Farm forever. After talking to them and asking them what I should look for when shopping for car insurance is a policy that wont cancel you or raise rates if you have an accident. We have made claims in the past (storm damage and I hit a tree stump – no actual vehicle to vehicle accidents) and our rates have not gone up. Do other companies do the same? What about Traveler’s Auto Insurance?

Best answer:

Answer by CatZ
Hi Christy,
Get in touch with an insurance BROKER. They can give you names and rates from several different insurance companies.

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