According to a new report by CNBC, more than a third of Americans don’t know their mortgage interest rates.
Reporter Diana Olick says Monday morning’s finding is not surprising, however, considering that – during the housing boom – many people didn’t even know whether they had a fixed or adjustable rate mortgage.
“If you don’t know your mortgage rate, especially today with falling rates and new government-backed loans that are cheaper than they were before, you could be missing out on thousands of dollars on annual savings,” Olick said.
Image via flickr/Scott Maxwell
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