Refinancing

[*NastyJeff*]

We are in the process of refinacing our home; talk about a pain in the butt.
After the flood two years ago it appraised for $75,000. This week it appraised for $93,000; who woulda thunk such a thing.
I think I put more than $18,000 into it, but I guess I should be happy...
We are involved with an adjustable rate mortgage, so we are changing to a fixed rate.
I guess having the value jump up 18,000 in two years is huge, time to do more work on the house!

[*NastySoprano*]

Hey...

It's a good thing to lock into a fixed rate... Smart move.

Sop

[*NastyJeff*]

Yeah, we are still lucky enough to live in an area where housing is inexpensive.
Our home in Colorado would be well over $200,000.

[*NastyGimp*]

And with US interest rates so low, a fixed rate would be excellent.

I'm on discounted at the moment, which is great with falling UK interest rates. It just went down 0.5%, which is nice, as that saves me over £200 a month! Time to buy a new PC

[*NastySaw*]

Fixed rate mortgages in the US are actually high (relative to 6 months ago). However, they are still relatively low in reference to the long term history.