If you are wondering about lowering your mortgage rate, then you want to take a look at this infographic below. The biggest reason why is compounding interest, but this time it's working against you.
Compound interest is great for dividend stock investors but a absolute nightmare for borrowers.
Take a look at what a 1% increase in your mortgage rate will cost you in the future:
Tarik Pierce is the founder of InvestorTrip.com and regularly contributes articles to this website.
While living overseas, he uses PureVPN for a low cost VPN service.
He recommends Bluehost for setting up your own personal and/or business blog.
While his background is mostly related to trading stocks, he recently gained interest in real estate crowdfunding with Fundrise.