How refinancing affects your credit score

Author: External Author | | Categories: Mortgage Broker , Mortgage Industry , Mortgage Pre-Approval , Mortgage Refinance , Mortgage Renewal

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Interest rates have taken a nosedive in 2020, one that’s been worth thousands of dollars a year to homeowners. Mortgage rates are lower than ever before, so some Canadians may be wondering whether it’s worth refinancing to lower their monthly payments. To nab the lowest rate you can, you’ll need to keep a strong credit score — which actually becomes even more challenging after you refinance.

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Original Article Source Credits: Financial Post, https://financialpost.com/

Article Written By: Ethan Rotberg

Original Article Posted on: 5th November 2020

Link to Original Article: https://financialpost.com/moneywise/how-refinancing-affects-your-credit-score



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