I decided to rent my place out that I was living in to someone in October, 2006. When I calculate the Mortgage Interest for the rental do I just calculate the interest paid during October through December of 2006 since those are the months I rented the property out?

I keep seeing how the short term loan interest rate is what everyone is talking about. And then I hear about trying to bail out these people with high interest mortgages. This doesn't make sense to me. Mine is at 6.25% which is fine and I'n not having any problems, but if these people that have these great big houses get help then why not give the responsible people a break too. We are the ones that deserve it.

I am going to re-finance my interest only mortgage and need suggestions on when to lock in an interest rate. How long will they continue to drop?

My mortgage interest rate is 6.875% and the APR is 7.504% Does the APR of 7.504% sound right if the interest rate is 6.875% ? My mom said that the 2 numbers should be closer together than that. Also, my mortgage banker never even mentioned an APR, and since we are 1st time home buyer's, we were unaware of it. We only knew about the Interest Rate. Thanks for the help.