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WEALTH MANAGEMENT >>
Paying Off Your Mortgage Early
Whether to Do
So Depends on
Several Factors
BY BARBARA TROMBLEY, MBA, CPA
Should you pay off your mortgage early? This is a common question that financial planners get, and the answer is not always what you may be thinking.
According to the Federal Reserve Bank of St. Louis, historic mortgage rates peaked in 1981 at a 30-year fixed rate of 18.63%. Throughout the 1980s, the 30-year fixed rate steadily declined to a lofty 10%+ in 1990.
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