Interest rates have been creeping up a bit since the election, including the rate that affects middle-class Americans most directly – the rate on home mortgages. But even if they inch higher, mortgage rates remain near their all-time lows, which makes this a particularly good time to consider a mortgage refinancing and locking in a low-rate fixed mortgage.
You may wonder what mortgages have to do with dividend investing, as the two are usually considered distinct aspects of personal finance. But if you look at both as key components of a financial plan that leads to higher retirement income, you can start to see a connection.
Saving Thousands of Dollars
Paying off an older, higher-rate mortgage with a new, lower-rate mortgage can save you hundreds of dollars a month and tens of thousands of dollars in total over the life of the mortgage.