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refinance mortgage rising interest rates

How to Determine the Best Time to Refinance Your Mortgage When Interest Rates Are Rising

July 13, 2022

When’s the Best Time to Refinance a Mortgage?

For most American homeowners, their mortgage payment is the single largest expense they pay every month. So, it is no surprise that when interest rates drop, homeowners by the score apply to refinance their loans to lower their rate, so they can save money.

But what happens when interest rates start heading the other way? Is it still a good idea to refinance your mortgage when interest rates are rising?

The answer depends on a few factors. In this guide, you’ll learn how to determine the best time to refinance your mortgage when interest rates are rising. more “How to Determine the Best Time to Refinance Your Mortgage When Interest Rates Are Rising” …

What Can You Realistically Do With a Cash-Out Refinance of Your Mortgage?

June 17, 2022

Make the Most of Your Cash-Out Mortgage Refinance

Now that mortgage interest rates are on the rise after years of being at record low levels, homeowners across the nation are choosing to look into cash-out refinances to secure new rates while they’re still low and gain access to money that can help them deal with a variety of different expenses.

But as attractive as a cash-out refinance might be, not every homeowner is in an ideal position to benefit from one. You want to make the best financial decision for your unique situation, and part of that is understanding what you can realistically do with a cash-out refinance of your mortgage. more “What Can You Realistically Do With a Cash-Out Refinance of Your Mortgage?” …

Important Questions to Ask Yourself Before You Refinance Your Home Mortgage

May 18, 2022

Important Questions to Ask Yourself Before You Refinance Your Home Mortgage

Interest rates have been rising faster than most real estate experts have predicted, so more homeowners who may have been thinking about refinancing their home mortgages this year are suddenly faced with having to make a quicker decision. After all, the goal of most refinances is to save money with a lower interest rate, and every week they wait can wind up costing them some of their potential savings.

That said, just because you want to refinance doesn’t mean that you’re in a good position to do so. Before you refinance your home mortgage, ask yourself the following questions to help determine if you’re ready. more “Important Questions to Ask Yourself Before You Refinance Your Home Mortgage” …

What Do I Need to Know Before Getting My First Mortgage?

April 13, 2022

Read This Article Before Shopping for Your First Mortgage

Buying your first home is one life’s most rewarding and memorable experiences. But if you aren’t careful, it can wind up being an experience that you may regret for years to come.

Whether you have a positive experience or a negative one will likely be determined by how prepared you are for the process. As always, the more you know, the better off you will be and the more likely you will be able to avoid many of the common pitfalls that can turn the mortgage process into a nightmare.

So, here’s some of the most important things you need to know before you start applying for your first mortgage. more “What Do I Need to Know Before Getting My First Mortgage? “ …

2022 Mortgage Interest Rates: Examining the Fed’s Decision to Start Interest Rate Hikes

March 23, 2022

What’s Behind the Fed’s Decision to Raise Interest Rates?

April 2010 was the last time the national mortgage interest rate sat above 5%. Since that time, the rates have dropped to historic lows, reaching its all-time low of 2.68% in December 2020. But since that landmark was reached, the interest rate has slowly but surely inched its way closer to 4% and if the experts are right, we could very well see interest rates higher than that by year’s end.

This has left many wondering why the Fed is choosing now to change course and start increasing interest rates. Here’s the basics of what we know, so you can speak with your mortgage lender from an informed position, and receive proper guidance and advice as we progress through 2022. more “2022 Mortgage Interest Rates: Examining the Fed’s Decision to Start Interest Rate Hikes” …

When Is the Best Time to Refinance Your Mortgage?

February 19, 2022

Knowing the Best Mortgage Option for You

Choosing to refinance your mortgage can help you save a lot of money on your monthly mortgage payment, but just how much you can save all depends on when you choose to refinance. It is also important to note that just because you might be saving on your mortgage payment, refinancing might not always be in your best interest depending on your circumstances.

If you are wondering, when is the best time to refinance your mortgage, then here are some things you should be thinking about that will help you make the best decision for your current and future housing needs. more “When Is the Best Time to Refinance Your Mortgage?” …

The Pros and Cons of Waiving Your Home Inspection When Buying

July 27, 2021

Understanding the Value of a Home Inspection

Buying a home is one of the largest investments most people make in their lives. For this reason, buyers should want to know everything there is to know about the property they will be paying for over the next 30 years.

This is why home inspections exist. They provide the prospective buyer with greater insight into the state of most of the home’s primary elements. While a home inspection is important and recommended, there may be occasions where a buyer may choose to waive the inspection.

In today’s post, we share the pros and cons of waiving your home inspection when buying. more “The Pros and Cons of Waiving Your Home Inspection When Buying” …

Using Mortgage Refinancing for Remodeling a Home

March 25, 2021

What Loan Is Best for Home Remodels?

Many homeowners who have either lived in their home for a long while or who have seen an increase in market value on their property choose to tap into their home equity for the purposes of doing remodeling projects. More often than not, homeowners don’t find themselves in a position to shell out cash without leveraging this asset. With refinance rates looking better than ever, using one’s existing mortgage is a popular way to access funds to start breaking ground on projects around the home.

Thinking about remodeling your home sometime in the next year? Have equity built up in your property? If this sounds like you, then read on to learn about a few loan types that will put you in good standing to finance those long-awaited home improvement projects. more “Using Mortgage Refinancing for Remodeling a Home” …

Spending Mortgage Refinance Money on the Best Home Improvement Projects

February 25, 2021

How to Make Decisions About Your Mortgage Refinance Money

These days, most major home renovations can be pretty costly, amounting to total budgets that don’t speak to the reality of what many homeowners have saved for a rainy day. With great rates available for mortgages, refinancing one’s home and taking equity out has become a realistic way for homeowners to get the money they need for large-scale projects around the house.

If you’re reading this, then the idea of refinancing your home to pay for your future remodeling projects is likely front of mind. But savvy homeowners will want to consider ROI on various house projects before spending the money and taking the leap. For example, will the project increase your home’s value a little, or a lot? Will you be spending more money than you’ll be adding to your home’s value? Refinance your home for remodeling projects when the ROI says it’s worth it. With that in mind, here are a few renovation projects worth refinancing your mortgage for. more “Spending Mortgage Refinance Money on the Best Home Improvement Projects” …

What’s the Best Re-Fi Program for You?

December 23, 2020

How to Make Sure You’re Getting the Best Rate on Your Re-Fi

Now that the election is finally over and a new president is heading to office, it’s anybody’s guess as to how long mortgage interest rates will remain low. Traditionally, election years can have an unexpected effect on the housing market, and if 2020 has taught us anything, it’s to expect the unexpected.

So if you’re thinking about refinancing your home, now might be the time to finally make the leap. But before you do, it’s a good idea to have a better understanding about the different Re-Fi programs out there, because there are several options that you will need to choose from. It also helps to know how to make sure you’re getting the best rate possible. In this guide, you’ll learn more about choosing the best Re-Fi program for you, and how to lock in the lowest rate. more “What’s the Best Re-Fi Program for You?” …