The Best Rates: New Jersey Mortgage Refinancing

By Kelly Richardson
Local Lender Columnist
Mar 9, 2006
If you are a New Jersey homeowner and you have ever considered refinancing your current home mortgage to get better interest rates, the time is now.

One of the hottest topics in the financial world is changing interest rates. When do you refinance? How low do the rates need to go before you make a move? These tough questions about mortgages and rates can be answered when you do some simple research on the Internet. Here are some of the important facts.

Getting the Best Interest Rates in New Jersey:

• Historical Rates. In New Jersey, interest rates have fluctuated along with the national average over the last five to ten years.
• Rates and the Economy. The rule of thumb is that interest rates on home mortgages work in contrast with the nation's economy.
• Check Several Lenders. Not all mortgage lenders are the same, and neither are the interest rates that they may offer New Jersey residents.
• Variable Versus Fixed. Whether you go with variable or fixed interest rates will determine your monthly payment arrangement.

Getting the best interest rates on mortgage loans is often a matter of shopping around. You can help yourself by checking the various resources available on the Internet for mortgages, refinancing, and rates. Here are just a few of the impartial sources that will provide you with information.

New Jersey Mortgage and Interest Rates Resources:

• New Jersey Housing and Mortgage Finance Agency. This state-sponsored web site provides up-to-date mortgage and rates information.
• Housing and Community Development Network of New Jersey. This nonprofit site has quality information for New Jersey homeowners.

New Jersey homeowners can rest easy knowing that there are several resources that will help them make decisions about when to refinance and how to get the best rates.

Sources

• New Jersey Housing and Mortgage Finance Agency

About the Author
Kelly Richardson has over 15 years of creative and technical writing experience. He teaches secondary Honors-level English and writes ad copy for a variety of clients in specialized industries such as medicine and technology. Kelly holds Undergraduate and Graduate degrees in English and Education from Georgia State University. He is currently pursuing a Doctorate in Educational Policy & Leadership from Berne University & International Graduate School.