CTV Morning Live: Mortgage Minute - January 20
Frank Napolitano joins Jeff Hopper on CTV Morning Live to share a few useful tips on how to pay off debt using the equity in your home.
On this week's episode of the Mortgage Minute, Frank Napolitano discusses how you can pay off and consolidate some of your debt using the equity built up in your home. Consolidating credit card and other loans, such as a car loan, which carry rates anywhere from 8% to 19% will help save you money in the long run and help increase your monthly cash flow. This will also keep your payments consistent and lower the risk of you forgetting to pay a bill, or forcing you to use available credit to help pay for other debt.
In other mortgage news, rates have lowered again last week. The opportunity to obtain a rate guarantee for an upcoming purchase or renewal with today's record rates is still possible.
It is important to discuss all details of your mortgage with a professional. Contact one of our Mortgage Brokers for advice.