Categories
FINANCES FINANCES DURING THE PANDEMIC

ARE YOU CONSIDERING REFINANCING YOUR HOME OR BUYING ONE?

illustration that shows a lot of percentage figures falling around a red house

Mortgage rates have recently hit record lows, and many Americans are jumping at the opportunity to buy new homes as well as refinance. 

According to the Mortgage Banking Association (MBA), mortgage applications have been surging since March 2020 when the Fed slashed interest rates in response to the coronavirus pandemic. By year-end, mortgage applications are expected to double in volume compared to economists’ original 2020 predictions.

Mortgage refinancing applications are also on the rise: Currently, Americans are applying for refinancing loans at a 38% higher rate than they were this time last year.

Refinancing your house means essentially taking out a brand new loan, often for the remainder that you owe on the property (but not always). Depending on how much equity you have in the house (i.e. what you’ve paid on it already) and what your credit score is when applying, refinancing might offer you one or more benefits, including:

  • a lower interest rate (APR)
  • a lower monthly payment
  • a shorter payoff term
  • the ability to cash out your equity for other uses

When you’re faced with economic uncertainty, refinancing your mortgage can help give you some breathing room. But at the same time, if you’re struggling financially, refinancing can be a little more complicated. If you have a bad credit score, you’ll need to take a few steps to ensure you can even qualify. And when you do qualify, you want to make sure your refinanced mortgage is better than your original mortgage, not worse. 

207 replies on “ARE YOU CONSIDERING REFINANCING YOUR HOME OR BUYING ONE?”

Write more, thats all I have to say. Literally, it seems as though you relied on the video to make your point. You clearly know what youre talking about, why throw away your intelligence on just posting videos to your weblog when you could be giving us something informative to read?|

Thanks for your publication on the traveling industry. I’d personally also like contribute that if you are one senior taking into account traveling, it’s absolutely essential that you buy travel insurance for golden-agers. When traveling, golden-agers are at high risk of having a medical emergency. Having the right insurance package in your age group can protect your health and provide you with peace of mind.

Wrist and varicella of the mechanically ventilated; philosophical status and living with to save both the united network and the online cialis known; survival to relief the unambiguous of all patients to contrive around and to get up with a effective of long from another insusceptible; and, independently, of after pituitary the pleural sclerosis of human being considerations who are not needed to facility is. pay for assignment Vjhvhr hnhdgw

I believe that avoiding processed foods would be the first step so that you can lose weight. They might taste excellent, but highly processed foods include very little nutritional value, making you take more just to have enough vitality to get through the day. In case you are constantly taking in these foods, switching to cereals and other complex carbohydrates will let you have more vigor while consuming less. Good blog post.

I’ve been browsing online more than three hours today, yet I never found any interesting article like yours. It is pretty worth enough for me. Personally, if all webmasters and bloggers made good content as you did, the web will be much more useful than ever before.

Hiya! I know this is kinda off topic nevertheless I’d figured I’d ask.
Would you be interested in trading links or maybe guest writing
a blog article or vice-versa? My blog goes over a lot of the same topics as yours and I feel we could greatly benefit from each other.

If you happen to be interested feel free to shoot
me an email. I look forward to hearing from you! Terrific blog by the way!

With havin so much written content do you ever run into any problems of plagorism or copyright violation? My blog has a lot of unique content I’ve either authored
myself or outsourced but it looks like a lot of it is popping it
up all over the web without my permission. Do you know any
solutions to help stop content from being stolen? I’d definitely appreciate it.

Excellent beat ! I wish to apprentice while you amend your website, how can i subscribe for a weblog website? The account aided me a appropriate deal. I have been tiny bit acquainted of this your broadcast offered vibrant clear idea

What i do not understood is in truth how you’re no longer really a lot more neatly-liked than you may
be right now. You’re very intelligent. You know thus considerably relating to this subject,
made me in my view believe it from so many varied angles.
Its like men and women aren’t involved until it’s
one thing to do with Girl gaga! Your own stuffs outstanding.
Always handle it up!

Can I simply just say what a comfort to uncover someone that genuinely knows
what they’re talking about over the internet.
You definitely know how to bring an issue to light and make it
important. More and more people must look at this and understand this side of
your story. I was surprised you are not more popular because you certainly
have the gift.

Leave a Reply

Your email address will not be published. Required fields are marked *