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Payment Planning
What happens to your payment when rates move
A lot of people assume that if rates go up or down, their monthly payment automatically adjusts. Here's the reality: if you have a fixed-rate mortgage, your payment stays locked in for the life of the loan. What changes is what you could get if you refinanced or if you're shopping for a new mortgage. This matters because it means your housing payment is predictable—a real advantage in budgeting. But it also means that if rates drop significantly below what you locked in, refinancing might be worth exploring to lower that payment. The key is understanding what you actually have versus what might be possible. That's where a conversation with me comes in handy. Let's talk about what your situation looks like right now.
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