Loan Digest

Mortgage rates: One extra payment a year could save you big

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Unprecedented Levels News

Prospective Buyers

As home prices soar to unprecedented levels, many homeowners and prospective buyers are grappling with the challenge of managing loans. In this high-cost...

As home prices soar to unprecedented levels, many homeowners and prospective buyers are grappling with the challenge of managing loans.Yahoo Finance's Personal Finance Editor Molly Moorhead discusses the impact of making just one extra mortgage payment each year.Joining me now with one key tip to help you pay down your mortgage faster.You can do this by uh saving up all year and paying extra pay, making that extra payment in December.You can make biweekly payments that will save money.

So, uh you know, if you have a two or 3% mortgage, that might be a calculation if you've bought in the last couple of years at these high rates, do it.I Retired in My 50s: 5 Expenses You Should Eliminate Now If You Want To Do the Same

 

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