higher-rates-sign

Refinancing in a Rising Interest Rate Environment

OWNx Team Blog, Money & Finance 1 Comment

A rising interest rate environment will have an effect on the price of gold and silver. That’s something most gold and silver investor understand. However interest rates affect a great deal more than just the price of precious metals.

One of the largest impacts it has on most people’s pocketbooks increased mortgage rates. Over the past several years the low and falling interest rate environment has been a boon to those wanting to refinance.  Now that the tables have turned, what should you do if you are considering refinancing your mortgage?

In his article, Refinancing Tips When Rates Start To Rise, Richard Barrington with the “Get Rich Slowly” blog gives you these 5 refinancing tips:

  1. Shift to a shorter loan. 
  2. Consider variable rates for short time horizons. 
  3. Take advantage of improved credit. 
  4. Use refinancing for payment management.
  5. Do some comparison shopping. 

With the unpredictability of the markets, geopolitics, and monetary policy, it is difficult to know if the long term trend toward falling rates has ended and the future holds nothing but higher rates. For now however, it’s good to get some perspective on what to think about if the worm has indeed turned and the days of sub-3% 30 year mortgages are in the rear view mirror for good.

Check out our OWNx News and Commentary Page

Like it? Share it!

Comments 1

Leave a Reply

Your email address will not be published.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