Refinance: When the Stock Market Taking a Dive

We are into the official first work week of 2008. Most people are not quite over with the holiday residuals, naming vacation floating molds, but at this time, the stock market has taking big influence, huge headlines into our new year.
The first official 5 days of stock trading of Wall Street in 2008 had slipped 5%. Dow had fallen from 13,000 level. CNN Business News and CNBC Money talks used “recession”, “inflation” words over millions times. But, did you know, while everyone else is still recovering from the holiday moods, you can take the advantages of refinance your mortgage? The dipping of the stock market, is especially good for the mortgage rates in the past two weeks.

Especially, those who are at the edge and are worry of the rate reset in 2008. The forecast of the real estate market in 2008 is not bright at the moment, but if you can use this special moment to lower, buy down points, payoff some debts, wouldn’t you do it?

Nobody knows what will happen when stock market re-open on the third week of the New Year, but the low rate will not stay there for long. I strongly recommend those who have to reset your rate this year, look into this golden opportunity seriously, because, when the stock market come back up, or the Fed stop cutting interest rates (to bail out those bad subprime loans), and you know, you will not see rate this low again.


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