Interest Only Mortgage Holders: Do You Know Your Rate?
Stay on top of current index rates used for interest-only loans.
(PRWEB) August 20, 2005 -- Interest only loans have dramatically increased in popularity over the last few years -- in some areas, approaching 30 percent of all home loans closed. However, consumers should be aware that some of the indexes which these popular home loans have interest rates based on have also increased in the past two years.
InterestOnlyLoans.com is pleased to announce a further improvement to our website allowing consumers to view all popular index rates used by lenders as a base to home mortgage loans. These rates are updated daily and include:
Prime, LIBOR, COFI, MTA and more
Lower payments associated with interest only loans are beneficial to many homeowners but as interest rates rise, some people may want to consider securing a fixed mortgage rate, especially those consumers who foresee living in their home for periods greater than five years. After all, interest only loans are not for everyone -- they simply provide a number of advantages to people of various profiles" stated Martin Brown, a Senior Loan Officer in a recent interview.
For more information on interest only loans please visit www.interestonlyloans.com
About InterestOnlyLoans.com
Established in 2002, InterestOnlyLoans.com is the premier destination for information on interest only loans. With an annual reach of more than 2 million unique visitors, InterestOnlyLoans.com provides current index rates, program information, online mortgage calculators and more, to both consumers and mortgage professionals. Visit www.interestonlyloans.com today!
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