Mortgage Opportunity
In the wake of 9/11...

If you haven't refinanced, now may be the time
One way to reduce your monthly expenses is to refinance your home mortgage. And while interest rates have been fairly modest for some time, they turned extremely attractive during the latter half of 2001.

As this chart shows, rates have hit historically low levels, close to their lowest in three decades. While many of you may have already taken advantage of this, those who haven't should give it a closer look.



What difference can it make? As an example, a $150,000 30-year fixed mortgage financed at 9% required a monthly payment (principal and interest) of $1,207. By contrast, the same loan with a 7% mortgage rate brings that payment down to $998.

That's an extra $200 that can be put to other uses, such as saving more money for your retirement plan or to pay down your credit card balances.

Content is for informational purposes only and may not accurately reflect your specific situation. Information is not intended to provide financial, legal, tax, or accounting advice. You should consult a qualified advisor for advice specific to your own circumstances.