This ‘crucial milestone’ that signifies financial stability will be lost on new homeowners for more than a decade.
  • friend_of_satan@lemmy.worldEnglish
    85·
    1 year ago

    I got an email yesterday telling me times have never been better to refinance my home. They swore that they could get me a number that was more than double my current rate.

    • krellor@kbin.social
      46·
      1 year ago

      I chuckle evily whenever I get a call from my mortgage company asking me if I’m happy with my mortgage. At 2.25% darn right I’m happy being below the current risk free rate of return.

    • jeffw@lemmy.world
      38·
      1 year ago

      Never been better for banks maybe. I refinanced during the pandemic and went from a 30 year to a 15 and barely changed my monthly payment.

      • Dkarma@lemmy.world
        8·
        1 year ago

        That’s normal. You either cut years or cut monthly payment. Very rarely both unless rates are actively dropping.

        A 15 yr saves you six figures over a 30 yr iirc so congrats!