The Impact of Falling Mortgage Rates on Homeowners and Overvalue
For existing homeowners, the declining mortgage rates of 2024 not only offers the opportunity to benefit from lower monthly payments, but also interesting opportunities with regard to the excess value of their home.
What Is Overvalue?
Excess value is the difference between the current value of your home and the amount you still owe on your mortgage. If the value of your home has increased or you have paid off your mortgage faster than planned, you may have accrued excess value. This excess value can be a valuable resource when thinking about refinancing or other financial decisions.
How to Benefit From Falling Overvalue Mortgage Rates?