answersLogoWhite

0

Your mortgage may have gone down due to a decrease in interest rates, a change in the terms of your loan, or a reduction in your outstanding balance through regular payments.

User Avatar

AnswerBot

6mo ago

What else can I help you with?

Related Questions

Can you give me a sentence with the word mortgage?

The economy is making the mortgage rate go down.


Will mortgage rates go up or down with the bailout?

They will go up.


What can happen with an adjustable mortgage?

The monthly mortgage payments go up or down from year to year.


What can happen with an adjustable-rate mortgage?

The monthly mortgage payments go up or down from year to year.


What happens with an adjustable rate mortgage?

The monthly mortgage payments go up or down from year to year.


Which of these describes what can happen with an ajustible-rate mortgage?

the montly mortgage payments go up or down from year to year.


Why did my mortgage payment go down?

Your mortgage payment may have gone down due to a decrease in interest rates, a change in your loan terms, or a reduction in property taxes or insurance costs.


What is the average rate of a 5 year mortgage?

The average rate of a 5 year mortgage in Canada seems to be just over 3%. The rate can go up or down depending on if the mortgage is closed or variable.


What are capped rate mortgages?

A capped rate mortgage is a mortgage arranged for a set period of time to either go up or down with a variable rate. The mortgage is allowed to fluctuate but cannot surpass a set cap.


Is there a cost savings to having fixed mortgage rates?

If the rates are down when you lock into a fixed mortgage rate, than yes, absolutely there are savings. If the rates are high, it's typically better to go with a variable mortgage rate.


Can I tear down a house with a mortgage on it?

No, you cannot tear down a house with a mortgage on it without permission from the lender.


Will refinancing your mortgage remove the mortgage insurance from your loan?

Actually, you may not have to go as far as refinancing to remove the mortgage insurance. If you have paid down the principle and have equity, you may have reached the percentage where your lender does not require mortgage insurance. Check with your lender and read your note to see where you stand.