Your Personal Finance Questions – Is a Lower Mortgage Rate Cheaper Without a Cash Back Deal?

QI want to convert my fixed-rate mortgage into a lower-cost variable-rate mortgage. I have about $265,000 outstanding on my 30-year mortgage on a $380,000 home. I’m looking at a couple of variable rate deals, one offering 4.2 percent with a cash back offer of 2 percent of the amount borrowed, and another offering a lower interest rate of 2.95 percent but no cash -Back offer. What would be the cheaper option over the entire term?

https://www.independent.ie/business/personal-finance/your-personal-finance-questions-is-a-lower-mortgage-rate-with-no-cash-back-deal-better-value-41861285.html Your Personal Finance Questions – Is a Lower Mortgage Rate Cheaper Without a Cash Back Deal?

Fry Electronics Team

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