David Hall, President and CEO of Hall Financial and a leading mortgage expert, sat with Roop Raj from Fox 2 to answer questions about the current mortgage market.
The Federal Reserve Bank met on March 16, 2022, and Hall offered his expertise on what this may mean for the market and consumers. In this clip, Hall and Raj discuss good debt versus bad debt.
Good debts offer benefits such as low interest rates and tax-deductible options. A home mortgage loan is a common form of good debt due to the low interest rates. Bad debts are rhythmic debts of recurring balances where borrowers primarily pay towards interest every month. High interest credit cards are a common form of bad debt with interest rates being as high as 16% to 19%.
We are here 7-days a week to answer all mortgage and refinance related questions to help borrowers be at ease. For more information click the chat to talk to a mortgage expert or call us at 866-Call-Hall.
