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3.5K views · 15 reactions | The average rate on a 30-year mortgage increased by a fraction to more than 7.2% — the highest level in more than five months. | CBS Evening News | Facebook
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Restarting a 30-year mortgage after you’ve already paid for years wipes out your progress. When you refinance back into a fresh 30-year term, you reset the amortization schedule and push most of your payment back toward interest instead of principal. Ask about 25-year or 20-year refinance terms so you keep your progress and cut long-term interest. If you want a breakdown of your numbers, DM REFI. #mortgage #refinance #interestsavings | J.D. Peck
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