Mortgage Rates Are On The Rise!

The Feds are starting to raise mortgage rates so if you haven't refinanced, now's the time to do it if it makes financial sense for you. When does it make sense to refinance? You have to evaluate a few things:

• Are you going to live in the house for a extended period of time?
• Can you at least drop your rate by more than a point and a half?
• What are the closing costs and how long will it take to pay that back?
• Is it financially advantageous for you to refinance?

These are just a few questions that you would want to answer for yourself before you go a head a refinance. Refinancing just to lower your monthly payment, is not a good reason to do it. Make sure that it is financially going to benefit you before you do it. Make sure that it fits with your financial plan. Always keep in mind that you are trying to build your net worth first! Making payments to yourself should always be your first option. Happy mortgage hunting for those's who are looking to do so.

To Your Financial Success!