Mortgage rates at their current record lows offer some serious savings for both home buyers and people looking to refinance. But experts say a low mortgage rate is only one part of the equation, as people also need to consider the loan’s annual percentage rate to take into account other costs such as upfront fees.
Cutting Back on Closing Costs
October 4, 2012 by
When looking for a loan, most borrowers look past everything else and concentrate on securing the lowest interest rate they can. But what people fail to realize is that a great deal of money can be saved by taking notice of the fees paid when closing the deal.
