Mortgage insights
Mortgage refinancing is pretty appealing in general when interest rates go down. Refinancing to a loan bearing a fixed interest rate provides some stability to the monthly budget. Other homeowners choose mortgage refinancing to tap into the equity in their homes to pay down consumer debt or make some much needed home improvements. The best part of this approach is that mortgage interest is income tax deductible, while consumer debt interest is not. Mortgage refinancing is also awfully attractive to people carrying two mortgages on their property.