Welcome to the Clark Howard Show where it's about you learning ways to keep more of what

you make.

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day.

Coming up later, Clark stinks.

Where you get to hear what others have posted, where you might disagree with me, feel like

I've given bad advice or you think I'm just plain wrong and that's coming up for you.

So there's an amazing set of events that have happened because of the tragic coronavirus.

And I've talked recently about what it's doing to the travel industry, what it's done

to gasoline prices, so many areas outside of the tragic illnesses and losses of life

that are also factors as a result.

And one of them is that mortgage rates have dropped significantly and there's some very

unusual patterns right now that affect you as some of you might refi.

Normally, there's a very large spread between 30 year loans and 15 year loans, but right

now that spread is quite small.

Spread between the two is about a quarter of a point or three-eighths of a point, very,

very low.

So historically, I've said, any time somebody calls me about doing a refinance, I say, well,

if you thought about doing a 15 year refi, because you're going to say this much in interest

rate and you'll be out of debt in half the time, blah, blah, blah.

And right now, because of the unusual reaction to the money markets to the coronavirus, what

happened is the 30 year loan rate got squeezed down, 15 year loan rates, not so much.

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