How refinancing affects your credit
November, 2012
The ultra low mortgage rates currently being offered across the country are helping first-time home buyers and current homeowners alike, but how does refinancing for these low rates affect your credit score?
A recent piece from MSN Money reveals that refinancing more than once in an attempt to lower how much you pay on your mortgage will not significantly affect your credit score.
"It will neither help nor hurt your score in the short term," Anthony Sprauve, director of public relations formyFICO.com, told the news source. "Any impact will be minimal and brief. The true impact will be how you manage the new mortgage over time."
The housing market is showing improvements across the board, which is good news for first-time home buyers. CNNMoney recently compiled a list of the top three positive housing market indicators. Home prices are on the rise, the housing industry has gone from bust to boom and builders are experiencing growth as well, causing more housing starts and building permits.
Learn More about the Refinance Process!
Tidak ada komentar:
Posting Komentar