Don't wait -- lock in that mortgage rate immediately - 2004-01-08
Q: I am purchasing a town house, which should be ready within the next two months. I have been monitoring the interest rates on a daily basis and am wondering whether I should lock in the rate now or wait until closer to my closing date, which I don't yet know when it will be.
Home Buyer, Miami

A: The average rate on a 30-year fixed-rate mortgage right now is 5.85 percent, which is very close to the lowest point reached in the past four decades. It's a great time to borrow.
Read the full story at Miami Herald

Re-evaluate your mortgage as you would a portfolio - 2004-01-08
It's a not a bad idea to evaluate your mortgage periodically to figure out whether it still fits your situation.

Do you have a 30-year fixed rate mortgage, but plan to move within five years? Maybe you should get an adjustable-rate loan. Do you or your spouse plan to take unpaid parental leave in the next few months? Maybe you should think about changing that adjustable-rate loan to a fixed.
Read the full story at Albuquerque Tribune