The Clark Howard Podcast 12.10.25 Mortgage Refinance Guidelines / Switching Banks - Easier Than You Think
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Dec 10, 2025 Is now the right time to refinance your mortgage? Clark dives into the criteria you need to consider. He sheds light on the hefty fees charged by giant banks and encourages a transition to regional or online banks. A fascinating method called 'soft switching' is discussed, making it easier for people to migrate their money. Plus, get tips on the best online banking options that favor your wallet. Clark also tackles the shifting landscape of credit freezes and how to be smart about your finances.
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Why Rates Have Fluctuated
- Mortgage rates were artificially low after the Great Recession but have since normalized and risen with inflation before recently falling again.
- A slowing economy makes further rate declines likely but rates remain hard to predict in the short term.
When To Consider Refinancing
- Shop mortgage refinance offers if you meet narrow criteria like strong equity and ability to afford a 15-year payment.
- Compare lenders because low mortgage activity means better competition and potentially lower origination costs.
Get Balloon Mortgage Promises In Writing
- Insist on written terms for any balloon mortgage promises and get details in writing before signing.
- If the lender won't write the 10-year rate guarantee, treat the deal as a standard balloon loan and proceed cautiously.