What determines Loans Interest Rates?

An interest rate is the rate at which interest is paid by a borrower for the use of money that they borrow from a lender. Interest rates are normally expressed as a percentage rate over the period of one year. Sometimes the reason people decide to do mortgage refinancing is because of a drastic drop in interest rates, as we have witnessed…

Loan Refinancing Options

Loan refinancing refers to the replacement of an existing debt obligation with a debt obligation under different terms. A loan can be refinanced for various reasons; to take advantage of a better interest rate, to consolidate several loans into one loan, to reduce the monthly repayment amount, to switch from a variable-rate to a fixed-rate loan,…