Title: Barry Armstrong looks at mortgage rates

" And -- money Monday segment we're talking about mortgage rates is this the time -- a lot into refinance. And we're talking health care costs in house on Medicare premiums are going up in some cases way up joining us now Barry Armstrong host of money matters on WPIX of financial advisor for securities America -- good morning Harry good morning. I -- happening in his first -- that would be the mortgage rates really low right now."

" When they really are they hear -- under 5% on thirty year fixed you can get adjustable rate mortgages at very low rates I think I saw something advertised. For a ten year fixed rate mortgages four point 25%. So there have been a lot of just terrific loan programs out there and I hope people are taking advantage at the same time they're saying this could change on a dime practically in this -- actress for a long time. Yes I think what a lot of consumers were unaware of is that. These rates are artificially low and wanna say that what I mean is that the Federal Reserve. Is actively buying mortgage backed securities in an effort to gain confidence in the market and try to get. Banks to buy them and individuals to buy mortgage backed securities. So if you look at mortgage rates if the Fed it wasn't artificially buying these mortgage backed securities rates would be 1% higher than where they are today to do you think you refinance today or do you think they'll go down even more in the weeks to come I don't think they're going anymore I think what you're gonna see over the coming months. Is a gradual increase in all forms of mortgage rates I think if you don't refinance now you're really gonna regret it -- good advice now let's switch gears talk Medicare costs they are going up for seniors -- they really are this is this is going to be a really. Big issue it's gonna start to gain media attention in the coming weeks but I can tell you the cost of Medicare part. That's going up by approximately 7%. And Medicare Advantage. Which is a and -- another plan that seniors participated is going up by 22%."

" That is a whopping increase it there is a window though right that's approaching -- you can change your plan do some homework that's right you have from November 15."

" Until December 31. To do your homework and you really need to based on the types of drugs that you're taking if you're on prescription drugs you need to go to Medicare dot gov. And walk through this very complicated process. To determine which prescription drug plan is going to be best for you and is also a phone number that you can call to -- I've got it -- 8063342."

" 27. And we'll put that on our website is well."

" For people like to deal with somebody and the other into the phone as well you get personalized care there because there are some seniors that don't have Internet access or not Internet friendly."

" That 800 number you talk to a person and they walk through the process this is important too because seniors are not necessarily going to get a commensurate -- in their Social Security. "

" Well they're not gonna get any -- in the Social Security in 2010. They're probably not gonna get any bump in 2011 or twelve from based on the projections I've done. Senior citizens should not being in anticipate. Any increase in their Social Security benefits for at least the next two years if not three if you're a senior what should you be doing today. I think the first thing is. Find out which drug plan is the right one -- and start getting ready to do your research all of this information and Medicare Advantage books are all coming in the mail in the month of October. And we'll have hard numbers in the coming weeks. And then between November 15 and December 31. That's when you have to actively pursue and do your homework because you only have that one opportunity on January 1 it's too late -- website again as a Medicare dot gov and we'll get the phone number on a website where you Barry thank you thank you."