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Refinance Home Mortgage: Get Multiple Free Quotes
Refinance Home Mortgage: Get Multiple Free Quotes
When considering the refinance home mortgage option, you will want to take a look at the different types of interest rate structures offered by lending institutions.
Los Angeles,
CA,
United States of America
(prbd.net)
17/04/2010
When considering the refinance home mortgage option, you will want to take a look at the different types of interest rate structures offered by lending institutions.
www.mortgagerefinance.fm
The basic interest rate charged by lenders is set by the Federal Reserve Board and it is based on the Fed Funds Rate. This rate is what determined the rate of a fixed-rate mortgage, where the rate set is the rate you will have for the length of the mortgage. The ARM option, or adjustable rate mortgage, carries an interest rate that fluctuates as the Fed's rate changes.
A fixed rate mortgage, on the other hand, has an interest rate that is locked in for the life of the loan. It does not fluctuate no matter what the Fed Funds Rate is. Traditionally fixed mortgages are issued for a period of either 30 years or 15 years. The advantage of the 30 year loan being lower payments.
The good news is that today it is possible to get multiple refinance home mortgage rates by simply filling out a basic form online. To get get your free multiple refinance home mortgage rates, please visit Mortgage Refinance at:
www.mortgagerefinance.fm