What You Should Be Doing During This Time

Use lower interest rates to improve your financial outlook down the road. Lower interest rates can allow you to shorten the terms of your mortgage and gain equity faster. 

This time, while challenging in many ways, is an amazing opportunity: these are the lowest interest rates we have ever had, and the lowest we will likely see in our lifetime. In addition, the world is in crisis. So many of you are probably, understandably, financially stressed — now is the time to refinance, get lower payments and interest rates, and potentially get some cash in order to help weather this storm. In the event that you don’t have cash challenges, then this is a great opportunity to use these lower interest rates to reduce the length of your mortgage payments and still pay the same monthly through the savings on the interest rate; this will allow you more equity and a chance to pay it off faster.