Posted on: 22nd Jul, 2013 12:22 am
There are only 6 years left to pay off my mortgage in full. Will it be a good option to increase my mortgage interest now?
Hi Humphrey,
I don't think it will be a good idea to increase your interest rate now. Moreover, if you increase your interest rate now, you will have to pay more. Why will you do that?
Thanks
I don't think it will be a good idea to increase your interest rate now. Moreover, if you increase your interest rate now, you will have to pay more. Why will you do that?
Thanks
Hi Humphrey!
Welcome to the forums!
It won't make sense to refinance and mortgage interest rate now. Rather you should pay off the loan with whatever interest rate you have presently.
Feel free to ask if you have further queries.
Sussane
Welcome to the forums!
It won't make sense to refinance and mortgage interest rate now. Rather you should pay off the loan with whatever interest rate you have presently.
Feel free to ask if you have further queries.
Sussane
Why on earth are you thinking of a refinance now? Don't you think that increasing the interest rates now will be a pretty bad decision? Repay the mortgage at the rate that you presently have.