With experts warning of a looming recession, you may be tempted to focus in on your interest rate, but are you missing other opportunities when you do that? In this week’s video Amerifund CEO Brad Rice explains why rising interest rates shouldn’t keep you from leveraging your home’s equity today.
In our past few videos, we’ve been mentioning some big changes coming. Experts are now saying that recession is imminent. It is only a matter of time before the main stream media picks up that narrative.
What does this mean for the real estate market you ask? Well, traditionally during a recession, mortgage rates drop, and with current home’s values remaining at an all-time high, homeowners have more equity than ever. All this is to say, there is no better time to leverage your equity than right now!
With a cash-out refinance today, you can consolidate your debt: Pay off cars, credit cards, anything with a high payment or rate, and although your rate on your mortgage may be higher for now, the advantage is that when rates drop, you can refinance and save by NOT paying a higher rate of interest for a cash-out loan later.
As always, here at Amerifund, we love to educate you. Until next time, visit us anytime at Amerifund.com