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Low mortgage rates and refinancing keeping some mortgage brokers in Connecticut busy

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EAST HADDAM, Conn. (WTNH) — Uncertain economic times have driven down mortgage rates and attracted homeowners to the idea of refinancing.

Some are looking to reduce their 30-year monthly mortgage payment while others are choosing to pay roughly the same and go to a 15-year mortgage instead.

“All depends on circumstances and factors,” said Eric Bogdan, branch manager of Envision Bank and Mortgage. “We’re talking credit score, appraised value, purpose of loan; whether it’s a purchase, rate term refinance or a cash-out refinance.”

RELATED: Connecticut professional shares information on mortgage payments, foreclosures and stimulus checks

Bogdan said the typical savings his customers are seeing are between $100-300 per month.

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