A HOMEBUYER'S GUIDE TO NAVIGATING CHANGING MORTGAGE RATES
Mortgage interest rates are falling, which is good news, but fluctuations in the recent past can feel a bit unsettling. So, let’s take a look at some of the things you can do to help insulate against changing interest rates. You May Be Able To Move Without Changing Your Mortgage If you want to move home and take your existing, cheaper-than-currently-available mortgage rate with you, then porting your mortgage is ideal. Porting your mortgage allows you to move to your next home with your current mortgage. You may also be able to borrow more in addition, but it’s important to remember that each mortgage provider will offer different terms. Fix Your Mortgage Interest Rate Variable interest rates tend to be higher than a fixed rate and many people prefer the stability and predictability of fixed-rate mortgages. However, if the variable rates fall below current fixed rates, then you save. This tends to happen when interest rates are very low. If you are planning on keeping your c