Mortgage ProductsAugust 17, 2009
Over The Long-Term, Cash-Out Refis Can Be Cheaper Than Lines Of Credit
It doesn't take an elephant's memory to remember that Prime Rate was 8 percent-plus just 2 years ago. A few years before that, Prime Rate neared 10 percent. These are the facts that the banks aren't selling. Instead, banks and credit unions are dangling low "start rates" as bait and looking for homeowners to bite.