Does it make sense to refinance to a higher interest rate on your mortgage?

Buying Florida · May 4, 2023 · 5m

There may be some situations where it makes sense to refinance at a higher interest rate in order to consolidate debt. For example, if you have multiple high-interest credit card debts and can only qualify for a personal loan with a slightly higher interest rate, consolidating your debts with the personal loan may still be beneficial if it allows you to pay off your credit cards and avoid high-interest charges.

Ultimately, the decision to refinance at a higher interest rate for debt consolidation will depend on your individual circumstances and the terms of the loan. It is important to…