Interest rates are at historic lows right now, due to two factors that have not happened at the same time in the past: low interest rates and low credit risk. This combination (see more in “watch” below) is enough to encourage you to consider refinancing whatever debt you may have, be it a mortgage, student loans, or other consumer debt. Check out the following resources:

• Read: This article from Bankrate informs the reader the impact the coronavirus has had on rates and treasury yield in the United States. 
• Listen: Refinancing your home mortgage could save you thousands, especially if you can get a shorter term note without increasing your payment much. However, you need to take a close look at the fees from different offers you consider, i.e. “closing costs.” Just because the interest rate is lower doesn’t mean a refinance is good for you. If you plan to move before you recoup the costs of the refinance, then it might not be a good option. Listen to more considerations on this ChooseFI podcast. 
• Watch: Travis Hornsby from Student Loan Planner details how super low interest rates and super low credit risk have not happened to this level at the same time ever. If you have student loans and are not working towards PSLF or IDR, check out the rates and consider refinancing your student loans for a lower interest rate.

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You can click on the links below to access this month’s resources. Thanks for reading, listening, and watching!