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Manhattan property values vs. Dow Jones average. How long will it last?
    
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Surprise New Home Sales Increase For September

Today rates were flat on a mixed stock market, and stronger than expected economic news.   Rates could increase up to .25 to the price due to deterioration in bonds from late Friday afternoon. The surprise today was September’s New Home Sales report which posted an increase of 2.7% when the street had expected another decline.     However [...]


Mortgage Rates Volatile and Rising

Mortgage rates should improve today by about .125 in rate due to the massive stock market sell-off experienced yesterday.  Most of those gains in the bond, however can be expected to be erased tomorrow as a result of the comeback this afternoon in stocks, and late afternoon related weakness in bonds. The CPI came in today [...]


Fed and Six World Central Banks Make Emergency Rate Cut

The US Federal Reserve and six other central banks cut their overnight lending rates by 50 basis points, over concern about weakening economic conditions.     Bonds, following stock market skepticism over the move, were down despite the cut, pushing rates higher by about .25 the the price.    Fed and Six World Central Banks Make Emergency Rate Cut


 
    
Mortgage Refinancing Calculator
This calculator will help you to decide whether or not you should refinance your current mortgage at a lower interest rate. Not only will this calculator calculate the monthly payment and net interest savings, but it will also calculate how many months it will take to break
even on the closing costs.

Enter the principal balance of your mortgage:
(call your mortgage lender and ask for the current payoff amount)
Enter the amount of your monthly mortgage payment (Principal & Interest Only):
Enter your mortgage's current interest rate:
Enter interest rate you will be refinancing at:
Enter the number of years you will be refinancing for:
Enter the closing costs
(Typically, # of points is "2" or dollar amount is .02 times the principal)
Would you like to finance the closing costs?
This is how much your monthly payment will be if you refinance:
Monthly Payment Reduction:
# of months for interest savings to offset closing costs:
This is how much interest you will pay under your current monthly payment plan:
This is how much interest you will pay under your refinanced monthly payment plan:
This is how much interest you will save if you refinance:
Net Refinancing Savings
(interest savings less closing costs):

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Our attempt is to provide our clients with up-to-date information on all current mortgage rates. The rates illustrated above are based on current market conditions for today, and are subject to change without notice.