We have two loans out on our house. One is only for about 10% of the value of our home, but splitting the load helped us to avoid some unnecessary mortgage insurance. The smaller loan is a variable rate mortgage, meaning that rising interest rates cost us a little more each month. Really it's not much at all, but it can make you a little angry when any extra money leaves your pocket. I got a call a few months ago from the bank making me an offer to fix the rate. They noted the rising rates and wanted a fee plus a higher rate than we were then paying to lock it in. Basically, they wanted me to gamble that rates would continue to rise and feel that locking it in would save me money over the long haul. It just wasn't worth it, no matter how you looked at it, especially with the small amount of the loan. The loan officer kept forcasting doom and gloom to me but I still said thanks but no thanks.
I hadn't thought of it that much until the loan officer called again on Thursday. She was checking to see if I was still happy with my loan (which is interesting because I've never equated loans with happiness). I remarked, "well, since the interest rates dropped and I'm paying less on my loan, I've been doing pretty good." And that was that.
You see, I would've at least owned up to trying to screw me over. If I had taken her advice I would've watched a lot of money walk out the door.
Hope she stays away from Vegas.