Hello fellow Fools,I recently refinanced my house and am taking advantage of property prices and mortgage rates to greatly lower the average APR I'm paying on my debt.For example the 7.9% short-term rate I had with Discover just went up to 19.99% with my last statement. Because of my refinance I was able to write them a 5-figure check so my balance with them is now 0. I was also able to do the same thing with MBNA and their 17.99% rate. Merrick bank's 21.99% card has been closed. (They bought my card from Next and raised the interest rate, but I hadn't been carrying a balance on it.)While this isn't a true happy dance (I didn't pay off debt, just "balance transferred" it to a much lower rate), it still feels good to get those balances to 0. Less and less of my debt is at the variable rates that credit card companies have control over, and more and more of it is at a low fixed rate, freeing up cash flow to continue to pay down the highest interest debt.Michael
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