The chapter delves into the impact of high home interest rates on financial decisions, discussing the uncertainty surrounding future interest rate changes influenced by economic data and geopolitical factors. It explores refinancing options like adjustable rate mortgages and caution against low advertised rates with high costs. Emphasizing the importance of understanding mortgage terms and costs, the conversation highlights strategies like paying points to lower rates and transitioning from temporary solutions to traditional loans.
#494: Tatyana is about to pay off her house at age 39! What’s next? Her husband, who earns twice as much (and whom she met after she bought the home), has no savings. They want a boat. Should she focus there?
Matthew recently ended a relationship that resulted in a real estate buyout with an 8.1 percent interest rate. With rates expected to decline, how long should he wait to refinance the loan?
Rachel’s friends know her as the finance gal, but she’s stumped about closed-end funds. What should she know about these investments?
Erin and Angelique call in with a loan strategy to tackle Steve’s double mortgage dilemma from Episode 478.
Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.
Enjoy!
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For more information, visit the show notes at https://affordanything.com/episode494
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