The Federal Reserve — aka “the Fed” — lowered the Fed funds rate today by 1/4 point to 4.25 percent. Great, but what does that really mean?
I know, it’s the holidays and extra cash is a rarity for most of us. But if you’re in the lucky spot of being able to afford putting extra money toward your mortgage, there are a few questions you should ask yourself first if you want to make the right choice financially, according to ABC News and the experts.
It’s not always easy to recognize when it’s time to refinance. But if you don’t stay on top of things, you may be throwing away money each month on your mortgage payment. Thankfully, there’s a resource out there that can give you a great start toward understanding your options and when to act: The Home Loan U Guide to Refinancing.