Comments on: Arizona Mortgage Rates January 16 2009 http://www.realphoenixliving.com/2009/01/16/arizona-mortgage-rates-january-16-2009/ Real Estate information for Phoenix, Scottsdale, and other nearby Arizona cities Tue, 07 Feb 2012 00:07:39 +0000 hourly 1 http://wordpress.org/?v=3.2 By: Justin McHood http://www.realphoenixliving.com/2009/01/16/arizona-mortgage-rates-january-16-2009/comment-page-1/#comment-4799 Justin McHood Fri, 23 Jan 2009 16:00:11 +0000 http://www.realphoenixliving.com/?p=1117#comment-4799 @phoenix car insurance Thanks for commenting and bringing out a great point -- for many people it makes absolutely no sense to refinance for any number of reasons and the one you highlighted is a common one. For anyone who is thinking about refinancing, please remember that there are more things to consider than just "what is my rate?" because you could easily get a lower rate and end up with a higher payment if your new loan has mortgage insurance where your old loan did not. Justin @phoenix car insurance

Thanks for commenting and bringing out a great point — for many people it makes absolutely no sense to refinance for any number of reasons and the one you highlighted is a common one.

For anyone who is thinking about refinancing, please remember that there are more things to consider than just “what is my rate?” because you could easily get a lower rate and end up with a higher payment if your new loan has mortgage insurance where your old loan did not.

Justin

]]> By: phoenix car insurance http://www.realphoenixliving.com/2009/01/16/arizona-mortgage-rates-january-16-2009/comment-page-1/#comment-4728 phoenix car insurance Mon, 19 Jan 2009 03:31:03 +0000 http://www.realphoenixliving.com/?p=1117#comment-4728 People like us are in a bind when it comes to refinancing now. We do not have to carry the mortgage insurance the way our old loan was configured. Since our home's value has fallen we would no longer have the equity to not carry that insurance. So it does not seem a wise thing to refinance, even if rates continue to drop. People like us are in a bind when it comes to refinancing now. We do not have to carry the mortgage insurance the way our old loan was configured. Since our home’s value has fallen we would no longer have the equity to not carry that insurance. So it does not seem a wise thing to refinance, even if rates continue to drop.

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