Home owners should take advantage of the lower interest rates being offered. If you have equity and did not refinance recently, now is the time to go for it! When was the last time you saw rates below 5%? Refinancing to a 15 yr rates can help save loads of interest and build up equity. This is a built in savings program for you. My borrowers are interested in saving money for long term goals. Look at this option, the payment may be higher, but the rewards are greater. If you can't swing a 15 yr loan, look at 20 yrs.
How iwll this help the economy? People will feel they are bettering their situation and feel safer about investing back into the market.
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