Refinance Loan News
Caught By Penalties In Fixed-interest Loan
Wednesday January 15, 1992
With most variable housing interest rates at 11 per cent a year, more and more borrowers who took out fixed-rate loans two years ago at 15.25 to 15.5 per cent are finding their hopes for lower repayments dashed when they look at the refinancing option. Many borrowers who took out five and