Day: June 16, 2020

The Pandemic Is Changing Our Financial Lives, and What to Know About Refinancing Now

Welcome to NerdWallet’s SmartMoney podcast, where we answer your real-world money questions.

The pandemic is changing our financial lives and plans. Seven in 10 Americans say their household incomes have been affected by the COVID-19 pandemic, according to a recent Harris Poll survey commissioned by NerdWallet. So it’s not surprising that most plan to take financial action after the pandemic ends, such as increasing their emergency savings and trimming nonessential spending. We’re also concerned about the home buying process. People worry whether it’s safe to tour potential homes and wonder if they could sell their existing homes. Many aren’t sure they could make mortgage payments or worry about tying up cash in a home purchase.

One of the few silver linings of the pandemic is lower interest rates, which has led to an increase in refinancing and to this week’s question from Sarah. She writes, “My husband and I … Read More