Wednesday, March 26, 2008

Mortgages make golf harder

It seems that these days the news reports are dominated by the stories of the recent credit crisis, or credit crunch as some commentators are call it. Unfortunately, in my country, interest rates have also been on the rise for quite some time (12 rate rises in a row) which is putting families further into debt. A quarter of a percent increase can mean hundreds of dollars of difference each month and families with larger mortgages are really feeling the added pressure, especially when the budget is already stretched. In some parts of the world the interest rate is almost in free fall and it makes the interest rate rises slightly harder to take.

Whatever the market is doing it pays to do your research and shop around for the best deal on your Mortgage. Don't settle for what your regular financial institution is offering, find the best deal and use it to negotiate with your preferred lender. Use the Internet to make inquiries and read as much information as possible. There are even some services online that will do all the hard work for you and find you a mortgage to best suit your needs with the best interest rate. Whatever you decide to do make sure you plan for future interest rate rises so that you will be prepared for any extra financial stress.

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