Why are mortgage holders paying extra in interest charges? | Sunrise

[@multioptioned]

Interest rates have just returned to a more realistic sustainable level. As far as refinancing. If you get turned down, each application will ruin your credit rating. No mention of that?

[@Iys67]

Very unprofessional for these two hosts to be giggling like that.

[@EdanLila]

Thanks for the forecast! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). Could you explain how to move them to Binance?

[@morganoox3838]

At the beginning of the loan you pay mostly interest. If you refinance after a few years you loose all the money you paid and start again. You're not saving anything, you're loosing. A LOT.

[@uberboiz]

This is only true if you reset the term of the loan and increase the loan amount when you refinance.

[@IsaacAaron-jq5kk]

​​​​@@uberboiz You could be right, But let me ask you.😅 Even if you avoid resetting the loan term, But how is it possible to refinance and not go above the original loan amount? especially when you consider bank charges and other costs etc involved when joining a new bank?

[@uberboiz]

@@IsaacAaron-jq5kk Fair question, let me answer it by asking you a question - how much do you think the charges/costs associated with refinancing with a new bank would be? Do you really think it's going to move the dial significantly? Most banks/mortgage brokers offer refinancing cash back anyway, which in most cases would be sufficient to cover most (if not all) of such costs.