SOURCE: Informa Research Services, Inc.

Informa Research Services, Inc.

October 31, 2011 13:14 ET

Make Your Monthly Mortgage Payments a Little Less Scary, Says Informa Research Services

CALABASAS, CA--(Marketwire - Oct 31, 2011) - Halloween's just around the corner and while haunted houses should be scary, don't let the size of your monthly mortgage payments haunt you. If your current home loan is attached to an interest rate that is higher than the rates currently being offered, Informa Research Services, a subsidiary of Informa plc (LSE: INF), suggests looking into refinancing to a lower rate loan using the help of online comparison rate tables (http://www.erate.com/current-mortgage-rates-30-year-fixed-mortgage-rates.htm).

According to their most recent survey, Informa Research Services reports that the national average rate attached to a traditional 30 year fixed rate mortgage was just 4.35% this week (Source: Informa Research Services' Interest Rate Review). While this is slightly higher than a few weeks ago, an average of just 4.35% nationwide is still very low. Also, because this is an average, this means that there are many rates available both higher and lower than this figure.

To find the lowest local mortgage rates, online rate tables such as those found on ERATE.com are incredibly useful. In addition to featuring lenders who offer some of the lowest rates in the country, these tables also make it quick and easy to find the best mortgage deal for you. Once you've narrowed your search down to the lenders who serve your area, you can sort your results by various loan characteristics such as points, APR, and estimated monthly mortgage payment.

Not only will refinancing your loan to a lower rate yield immediate returns by lowering your monthly mortgage payment, but it will also yield huge savings over the entire term of your loan. This will reduce the total cost of homeownership and ensure owning a home doesn't haunt you later!

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About Informa Research Services, Inc. (www.informars.com)
Since 1983, Informa Research Services, Inc., has provided the financial industry's most extensive array of market research, mystery shop, and decision-support information.