Longhorn Crib Set

You probably have heard that interest rates are falling and are currently in the 5% range. This is great news for homeowners feeling the pinch of this rather unkind economy.

Perhaps you have a fixed rate at or above 6%. Or maybe you are on an ARM that has been fixed for the last several years and is ready to convert to the higher rate.

Either way this can be a good time to refinance. I say "can" because you need to do your math carefully.

The first thing you must figure out is how much a reduction in your interest rate will actually save you. To do this, however, you can't only take your current mortgage amount and use the new interest rate to determine the difference.

You will do this but you must take into consideration the fact that you will pay closing costs on the new mortgage. Yes, the mortgage company will want an origination fee, the appraiser and surveyor need to get paid, and there will be various title fees. All said and done you can expect closing costs to run somewhere around 2.5% of the loan amount.

So right off the bat your monthly savings must, over time, compensate you for the additional closing costs. For a $200,000 home you can expect around $5,000.

That brings us to the big questions which is how long you plan on staying in your home. Clearly you will save money on a monthly basis, but over time will your savings equal or exceed the closing costs?

If the answer is yes, then refinancing should be considered seriously. If you are not sure about the length of time you plan on owning this particular home you should get that straight first.

Additionally, you will lose some of your tax benefits by refinancing. With the lower interest rate you will be charged less interest and will have a lesser interest right off for the year. You should consult with your CPA in this regards.

The point here is it is a good time to refinance, but be an informed consumer.

Learn the 10 questions you must ask your lender if you live near Austin and wish to get a home mortgage loan. Additionally, Austin residents can get a powerful mortgage refinance calculator here.

At a mind boggling $265,000 the Aston Martin DBS is sure to inspire awe at the very least. When is comes to super exotic luxury sports cars, the Aston Martin DBS is in rare air. It racks up more then 500hp along with a whopping 429 ft lbs of torque. It tops out at over 191 mph without any modifications to its ECU or engine for that matter. It has styling that's years beyond the DB9. It is certainly a vehicle to take notice of.

The Aston Martin DBS was first brought before the general public in the feature motion picture Casino Royale. In the James Bond movie, the DBS depicted within the film is actually just a modified DB9 since the DBS super car was still in its developmental stage. Some may ask, "What is the big difference between a DB9 and a DBS?" There is quite a big difference indeed.

The Aston Martin DBS is built on the same platform as the Vanquish. The DBS weighs more then 400 lbs less then the DB9. Not only that is produces 60 Horsepower more. With composite ceramic brakes and F-1 style transmission, if you really take a close look, you will see that the DBS is a world apart from the DB9.

The DBS has been fitted with what Aston Martin calls an Adaptive Damping System. This system has five different settings to adjust the car's ride and handling characteristics somewhat similar to the I-drive feature found in BMW's M6. In the summer of 2008, the new Aston Martin DBS is sure to make a big splash in the sports car world.

I hope you enjoyed reading this article and look forward to your continued readership. When I'm not busy writing on things that interest me I retail clothing, accessories, and self help products.
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