The Age
·general
·3 hours ago
With rates rising, should we use savings to reduce our mortgage?
A couple contemplating using their $100,000 in savings to pay off a $100,000 mortgage has been advised to consider an offset account instead. This strategy allows savings to offset the mortgage, potentially minimizing interest payments without losing access to funds. Maintaining an emergency fund is increasingly crucial amid rising job insecurity and economic uncertainty.
Summary by Glance · The Age
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