The U.S. has seen record-low interest rates over the past year-and-a-half. The current low-rate environment results from the government’s attempt to stimulate the economy in wake of the pandemic. As a result, over the past two years, we have witnessed a record-breaking housing market and,...

How Refinancing Works When refinancing your home loan, you pay off the existing mortgage and replace it with a new one. Generally, there are two types of refinances: Rate and term refinance: With this type of refinance, the new loan has a different rate and/or term than...