No, even regular savings accounts have ~4% interest, so it makes sense for anyone who got a mortgage more than 2-3 years ago when the rates went up. Any extra money shouldn’t be going to pay down old debt faster, it should be in savings or other high yield accounts.
Your personal financial situation is not really representative of the financial situation of Americans in general though.
No, even regular savings accounts have ~4% interest, so it makes sense for anyone who got a mortgage more than 2-3 years ago when the rates went up. Any extra money shouldn’t be going to pay down old debt faster, it should be in savings or other high yield accounts.