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Borrowers Cut Interest Rates With Shorter Terms
Low mortgage rates compound interest in refinancing
Dec. 12, 2010
By JIM OFFNER Waterloo-Cedar Falls Courier
Despite rising rates, some mortgage lenders are still seeing strong interest in refinances. Many requests are for borrowers who are looking to cut loan terms from 30 years to 15 years -- cutting their interest rates by a half percent in the process. One lender that continues to see healthy business is boosting lending capacity. But the story is not the same for all mortgage firms.
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