My sister has a thirty-year mortgage to pay off and just the thought of it scares me. One doesn't know what will happen ten or twenty years from now. She told me that there are signs that interest rates will be rising in the coming year or the next. She said that if that happens, it will definitely throw her off budget.
She is now thinking to refinance her home, since she has an adjustable rate mortgage. By refinancing, she would be able to get a better mortgage deal and lock in to a fixed rate mortgage without worrying on the rising interest rate, or live with the threat of it.
I think it is a good idea too. At least she will have peace of mind in the many more years to come!
She is now thinking to refinance her home, since she has an adjustable rate mortgage. By refinancing, she would be able to get a better mortgage deal and lock in to a fixed rate mortgage without worrying on the rising interest rate, or live with the threat of it.
I think it is a good idea too. At least she will have peace of mind in the many more years to come!
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