If you are thinking of mortgage refinancing then there is one thing you might want to know and that is – you should stay away from ARMs ( adjustable rate mortgages ) …
And if you are wondering why anybody would want to do that, especially since ARMs promise such low interest rates, well here’s why …
Adjustable rate mortgages are a great idea when the interest rates are all set to go down for the next several years …
And interest rates go down only when the Government wants to increase consumer spending. Interest rates go down when the Government is looking at ways to stimulate the economy, boost consumer spending …
But you might want to ponder whether this is the case now …
Consumer spending is extremely good and real estate prices are increasing at record growth rates that may not have been seen before. In fact, in some areas the rates are so high that some experts are actually wondering if anyone but the really rich can actually own property there.
And if the real estate prices keep increasing at the same or even higher rates for a long time, then possibly only the rich will actually be able...
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