Why Spring is the Prime Time to Refinance
Is there a best time of the year to refinance your mortgage? That’s a question that only you will know the answer to—after all, everyone’s needs are slightly different. However, for many, spring is a premier time to pull the trigger on mortgage refinancing. Why? Consider these three reasons.
- You’ll have the Best Opportunity to Utilize Proceeds – Many people choose to refinance as a way to get cash back for a significant remodel or renovation project. By doing this in springtime, you will have the spring, summer, and fall to work on these projects before you have to worry about cold or dangerous winter weather.
- Spring Clean Your Finances – If you are looking to save money on a monthly basis, spring is a good time to “clean up” and get things straightened out. You may also be dealing with taxes, so by refinancing, you can get your money matters all in order at the same time. For many people, this can be a big relief!
- The Interest Rates May Go Up – This year, at least, should prove to be a year where the interest rate rises. Therefore, one of the most important reasons to consider a refinance this spring is that the rates may be higher by the time summer or fall arrives. While moving too fast on something like this is not a good thing, there may be no time like the present.
As you can see, spring is a great time to refinance! If you would like to learn more about the process or find out if it is something that would work for you, reach out to us at Liberty Financial in Louisville, Kentucky. We can’t wait to help make your financial dreams come true.