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Survey Finds Refinanced Mortgages Average1 1/8 % Points Lower Than Original Mortgage
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Added Homeowner Savings On Housing ContinuesTo Prop Up Lack Luster Economy
Our analysis for 2002, indicates that the average refinanced mortgage has an interest rate about1 1/8percentage points lower than the original mortgage, freeing up even more consumer funds than had initially beenthought. Had this extra source of cash not been available, it would besafe to say that the national economy would have been in much worse condition.
If it didn't work, you would know. Truth is, home refinancing has been the number oneeconomical mainstay through our recently troubled economy.
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