Mortgage rates are expected to fall slightly this year, according to real estate experts looking at the data. Jessica Lautz, the deputy chief economist and vice president of research at the National Association of REALTORS, joins CBS News to discuss if h
What some homeowners fail to consider when refinancing is that it could take a long time to recover the costs, and they might not want to live in the property long enough to reap the savings.1 You might have a loan or two bearing a high interest rate if you've come out of a ...
"While refinancing can lower your interest rate and potentially save you money, you must consider the trade-offs, such as the loss of certain federal loan protections," says Hammelburger. "A qualified financial advisor can provide personalized advice based on your unique circumstances." Learn more...
When you’re refinancing your mortgage, your lender may want to have a professional appraise your home to determine its market value. The result of the appraisal can have an impact on your new loan, such as determining whether you need to pay for private mortgage insurance (PMI). ...
Here’s what to consider if you want to refinance: Pros Refinancing can lock in a lower interest rate. Refinancing may mean a lower monthly payment. Refinancing can lengthen or shorten a loan term, depending on borrower preference. Refinancing can turn equity into cash, providing a needed ...
There will be other questions to consider when choosing the right finance lender for your next business aviation acquisition, but the above should illustrate that not all lenders and offers of financing will be the best fit for all borrowers. The importance of considering the right questions to ...
A great time to refinance: What to know While mortgage rates are low, here's who may want to consider replacing their existing mortgage Whether you’re a new homeowner or a seasoned one,refinancingcan be a helpful financial tool, especially during particular points in theeconomiccycle....
Lock in low fixed interest rates: A 30-year mortgage at a low fixed interest rate is protected against inflation. Look to borrow when interest rates are low and consider refinancing when rates drop. Invest in stocks: Stock markets tend to do relatively better than bonds in a high-inflation ...
Refinancing Risk in Short-Term Debt Consider a home-building company that takes on large amounts ofshort-term debtto fund its projects. The company's strategy is to regularly replace this debt with new debt. This works well for a number of years until credit markets suddenly seize up because...
Refinancing a reverse mortgage can be risky. You’ll be older when you refinance, and age is a factor in determining how much equity you’re allowed to take out. If you break a reverse mortgage contract in order to refinance, you’ll likely be hit with prepayment penalties. Is a revers...