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Mortgage repayments & interest rate reduction

Gonzales · 2008-12-02 03:09:16

I am considering re-financing my mortgage to a lower interest rate. example: current rate is 3.68% fixed repayment is 5000/month new rate is 2.99% fixed should I bump up my repayments to put a dent in the mortgage at these lower rates? :confused: advice is appreciated. G.

02-12-2008 3:09am

#1

Gonzales

Closed Accounts Posts: 314 ✭✭

Join Date: December 2007

Posts: 260

I am considering re-financing my mortgage to a lower interest rate.

example:
current rate is 3.68% fixed
repayment is 5000/month

new rate is 2.99% fixed
should I bump up my repayments to put a dent in the mortgage at these lower rates?

advice is appreciated.

G.

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