All things home equity loans
* Avoid variable rate mortgages when you refinance. Even though the variable rate mortgage's monthly payments may be lower than the fixed, rates are so low right now that you are less likely to benefit from a rate drop after the introductory period is over. * Do not waste time waiting for interest rates to drop even lower before you refinance! Interest rates are reaching record lows already. Anyone who waits too long to refinance is likely to be caught refinancing as rates rise again. If rates do start rising, do not wait even longer in the hope that they will drop again.