One of the implications of rising interest rates set by US Fed Reserve is the increased cost of borrowing. For most of us, our homes are the largest kind of debt we hold, and you may be rightfully concerned how the ending of the low-interest era will affect your home mortgages. Some of the tools available to manage your home loan is to do a refinancing or repricing. To be clear, both refinancing and repricing fulfil the same purpose: to optimise the terms of your home mortgage, for instance, to reduce monthly repayment amounts or reduce the total amount of interest you pay. Refinancing is when you switch your existing home mortgage to a new one with another bank, while repricing means you get a new home loan package with your existing bank. There are some differences between them that you need to know about before deciding which option makes the most sense to you, such as in cost, timeline, and regulations.... Continue Reading