reasons to refinance | Online Lender Search Blog

Here’s When to Refinance Your Home… and When to Avoid It

Mortgage interest rates are a little better than they were a year ago, but they remain higher than they’ve been in two decades. Still, there are many homeowners out there who might find the prospect of refinancing their mortgages appealing for a number of different reasons. After all, there are a lot of mortgage loans out there with interest rates that are even higher what’s currently available, so these homeowners can potentially save money by refinancing.

But of course, before you choose to refinance your mortgage, it is important to assess your situation and consider your reasons for wanting to refinance because some reasons are simply better than others. And some reasons can even be detrimental.

Here are the best and worst reasons to refinance your home mortgage. more “The Best (and Worst) Reasons Why to Refinance Your Home Mortgage” …

Is Refinancing a Mortgage Always the Right Idea?

After several years of historically low interest rates, 2022 saw the rates change direction. As you might expect, this sudden shift has more homeowners than ever wondering if now is the best time to refinance, or if the smarter move is to wait to see if the coming months bring a return to rates lower than six percent.

If you are thinking about refinancing, there are certain things you need to consider to help ensure that your refinance delivers the results you’re looking to achieve. Two of the most common things you need to think about are where your interest rate currently stands and how long you are planning on staying in the home after you refinance.

But perhaps even more importantly is the reason why you are refinancing. This is something that is often overlooked, but the truth is – not every reason is an ideal reason for refinancing a mortgage. Here are three of the most common “bad reasons” for refinancing. more “Are There Reasons Why Refinancing Your Mortgage Is a Bad Idea?” …