José Luis Villegas/ jvillegas@sacbee.com

Carrie Paine recently refinanced her South Land Park home and was able to buy a new car with the savings, replacing an old auto with almost 200,000 miles on it. Paine’s monthly mortgage payment fell from about $1,550 to $1,300. She has a 30-year home loan with a 3.75 percent interest rate.

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