Ride The Line
. . . because getting a fixed-rate loan might not be the best fix.
Q:With the recent drop in interest rates, is now a good time torefinance my floating-rate loan?
A:Probably not. It's possible to get a fixed-rate loan, but notall lenders offer that option. If yours does, the initial rate onthe fixed-rate loan will likely be higher than that on thefloating-rate loan. Also, to avoid keeping their money tied up forlong periods of time, lenders usually make fixed-rate loans atshorter terms than when they float with the current rates.
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