Rethinking How to Refinance Home Loan

Do you think you can beat the market -- the mortgage market, that is?

Americans have become experts at pulling money out of their homes, to the tune of $600 billion in 2004. Much of that refinancing was done at adjustable interest rates -- and now the rates are adjusting upward. So maybe it's time to reverse the process and start putting money into your home equity. Or at least to refinance those home equity lines of credit to a fixed-rate loan.

In the second half of last year, 63% of new mortgages were subject to interest rate adjustments. And 23% of new loans were "interest only" loans. Those loans are potentially the most dangerous, though they make home ownership more affordable. ...