As Rates Rise, Refinancing a Mortgage Can Get Tricky

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As Rates Rise, Refinancing a Mortgage Can Get Tricky

Apr, 26th 2017

Interest rates are starting to inch up, with many expecting the Fed to raise rates a little more later this month. A recent strong jobs report is only making that more likely. If you have thought about refinancing your mortgage, you might want to think hard about it now, and perhaps lock in a low rate if you're serious.

Refinancing is taking on a new home loan to pay off your old home loan. The new mortgage can have different features, such as a longer or shorter term, and it can lower your monthly payments, too.

Before you start talking with lenders about refinancing your mortgage, make sure your credit score is strong -- and if it's not, spend some time looking into how you might raise your score, such...

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