When to refinance your mortgage. Like many homeowners, your monthly mortgage payment likely makes up the largest expense on your list of financial responsibilities. Although rates are rising, you might still be able to make your payment smaller if you consider an important question: Should I refinance my mortgage? Continue reading “When to refinance your mortgage”
Could Mortgage Rates Fall to 4.5% Next Year? Many experts think mortgage rates will keep rising, but several experts see a big reversal.
- Mortgage rates have more than doubled over the past year, sitting just under 7% for a 30-year fixed-rate loan.
- Experts are divided when it comes to what’s next.
- Some say that rates will continue to rise to 8% or more, while several experts think we’ll see a big reversal. Continue reading “Could Mortgage Rates Fall to 4.5% Next Year?”
Can I Use a Home Equity Loan to Buy Another House? Yes, but it may not be your best option.
If you have a significant amount of equity in your primary residence, you can tap into it through a home equity loan. You can then use that money for any purpose that you wish, including buying a second home or an investment property. Using a home equity loan to buy another house is not without risks, however, so it’s smart to understand the pros and cons before you proceed.