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Real Estate Briefing - Categorized | Finance, Market Moves more

US: Paying off the house in 15 years

Posted on 30 August 2010

Bob WaltersFrom WSJ: A growing number of homeowners are choosing to pay down their mortgages at a faster rate–even if it means a substantial jump in their monthly payments. Between January and June, 26% of homeowners who refinanced chose a 15-year fixed-rate mortgage, according to data from CoreLogic, a provider of financial, property and consumer information.

During all of 2009, 18.5% of borrowers who refinanced opted for a 15-year term. What’s prompting the shift to shorter loans? Historically low interest rates for fixed-rate mortgages…………………………………….Full Article: Source


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