Quote:
Originally Posted by GordonBlue
I'd like your opinions on a mortgage issue.
I'm locked in for 1 more full year.
Do you guys think it's better to wait the year, and hope for rate decreases, or would it be better to do a "blend and extend" right now in anticipation of a years worth of increases to come.
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Id think of it from a risk perspective. If mortgage rates rise 2% over the next year can you afford to keep making the payments? If the answer is no then locking in now might be reasonable.
If you decide to not extend start making payments to yourself based on what your mortgage payment increase today so you have a cushion if things get worse.
As for market timing I don’t think anyone knows.