But if you're trading a lower-rate mortgage for a higher-rate one just to free up cash, you're in a losing trade.
More Quotes from Greg McBride:
In 2002, rates on both types of cards are nearly certain to rise. Even fixed-rate cards are no shelter. The jockeying around to find a low-rate card is really only half the equation, ... The real thing to do is pay down debt.Greg McBride
But how the borrower performs after taking out the loan isn't' the best indicator of what's to come. The peak for delinquencies and defaults comes between years three and five.
Greg McBride
Even if someone pays the balance in full, that 2.5 percent fee they're going to pay for the convenience outweighs the rewards they're going to earn, especially on frequent flier miles.
Greg McBride
The extended low-rate holiday that consumers have enjoyed is a thing of the past.
Greg McBride
Keep that line of credit open for at least the first few years, otherwise you may face a penalty or have to pay closing costs that the lender originally paid when you took out the loan.
Greg McBride
Bouncing a check results in a punitive fee from your bank, and the punishment is growing increasingly harsh.
Greg McBride
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Based on Topics: Business & Commerce QuotesBased on Keywords: lower-rate
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