Homeowners Leaving 15-Year Mortgages For 30-Year Loans - Today's Mortgage and Real Estate News

Homeowners Leaving 15-Year Mortgages For 30-Year Loans - Today's Mortgage and Real Estate News. 15 VS 30 Year Mortgage

Homeowners Leaving 15-Year Mortgages For 30-Year Loans - Today's Mortgage and Real Estate News video duration 2 Minute(s) 54 Second(s), published by Growella on 02 07 2018 - 15:15:20.

https://growella.com/mortgage/ ▻ Today's mortgage and real estate news: (1) A Freddie Mac report shows that homeowners are refinancing away from their In this video i explain why if you have time on your side how a 30 year mortgage is better than a 15 year mortgage
A 30 year mortgage will give you better .

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https://growella.com/mortgage/ ► Today's mortgage and real estate news: (1) A Freddie Mac report shows that homeowners are refinancing away from their 15-year fixed-rate mortgages and choosing 30-year fixed-rate loans at the fastest pace in a decade; (2) Today's mortgage rates, plus a look at the 5-day trend in interest rates; (3) At the start of the year, mortgage experts made predictions about the future of U.S. mortgage rates and many of those predictions were wrong.

FROM THIS EPISODE
According to Freddie Mac's most recent Refinance Report, U.S. homeowners are refinancing out of their fifteen-year loans and into thirty-year ones at a faster pace right now than during any other time this decade. Through the first three months of the year, Freddie reports thirty seven percent of homeowners refinancing a 15-year mortgage elected to replace their 15-year loan with a thirty-year fixed-rate loan instead. Now, there are benefits in moves like this monthly payments are lower by about half and cash flow frees up that can be good. But, there are long-term effects, too. Like, when you pay interest for an additional decade-and-a-half, a typically-sized loan will require an additional $126,000 to pay the loan back. Refinancing is a personal choice and there's no best path that fits everyone.

Jump to the following:
(00:13) Which is better: 15-year mortgage or 30-year mortgage?
(01:36) Today's mortgage rates and the 5-day interest rate trend
(01:58) Mortgage Rate Predictions for 2018 and 2019

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