Mortgage interest rates continue to be at historic lows. Rates for 30-year fixed rate loans are hovering in the 4% to 4.2% range. There's no real whiff of inflation in the air that could lead to a spike in interest rates any time soon. So should you refinance? Crunching the numbers is crucial. When I was a mortgage banker, the rule of thumb would be it made sense when prevailing interest rates ... Read More
refinance
Ask The Money Coach: Should I pay off the mortgage?
Given the roller coaster ride that stock market investors have experienced and the negligible rates offered by banks on savings, it's easy to see why someone might want to use their cash to pay off their mortgage. Being debt free is not only noble but can provide a buffer in tough times since you'll have one less cash outflow each month. For every dollar you pay off in a mortgage, your rate of ... Read More
