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Submit Review“Should I refinance my home NOW or wait?” If you have bought a property in the past two years, every day looks like a better and better time to refinance your mortgage. After the Fed’s big rate cut last month, mortgage rates did the unexpected…they went UP. But, even with these slightly inflated rates, now is looking like a good time to refinance if you bought a home with a higher interest rate. So, should you take the risk of waiting for mortgage rates to drop or lock in these substantially lower rates now?
We don’t know what will happen next, so we brought on veteran lender Caeli Ridge to answer some of our more nuanced questions. Caeli summarizes where rates were, where they are today, and where they could be headed. If you want to know what refinance and HELOC (home equity line of credit) rates are right now, stay tuned because she shares exactly what her clients are getting.
What about paying no or low interest on your next HELOC? Caeli shares what may be the greatest HELOC hack we’ve ever heard of—one that gives you lots of liquidity while keeping your interest payments at the absolute rock bottom. You may have never heard of anything like it, so don’t miss this one!
In This Episode We Cover:
Where mortgage rates are right now for refinances and HELOCs
The HELOC hack that greatly minimizes your interest in your next equity line
Caeli’s interest rate forecast and where she thinks rates could be in the near future
When waiting to refinance could cost you, and whether rates may go UP again
The metrics that influence where mortgage rates will go next (what to pay attention to)
And So Much More!
Links from the Show
Let Us Know What You Thought of the Show!
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Invest in Turnkey Properties with REI Nation
Grab Dave’s Book, “Real Estate by the Numbers”
Find Investor-Friendly Lenders
With Mortgage Rates Falling, When Should Investors Refinance?
(00:00) Intro
(01:52) Interest Rate Update
(06:34) Why Rates Went UP
(11:59) Should You Refinance?
(18:17) Current Refi Rates
(19:37) Best HELOC Hack
(29:01) Interest Rate Forecast
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1034
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