Rising Interest Rates and Mortgage Decisions

Increasing borrowing costs are prompting homeowners to reassess their financial strategies regarding mortgages. With interest rates rising after a long period of low rates, many mortgage holders face the decision of whether to continue investing their spare cash or focus on paying down debt. Homeowners who secured fixed-rate mortgages at low rates during previous years are nearing the end of those terms and must consider the impact of rising mortgage payments. This shift in the financial landscape indicates that repaying debt may now be a more prudent option compared to past years when investing was generally favored.