Shafiq Hirani warns property owners not to wait for interest rates to drop before refinancing. He calls waiting "hope with a deadline" and says most owners who try to time the market fail. Have a plan ready now, regardless of what rates do next.
If your loan is coming due and you have been waiting for rates to come down before you do anything, I have a solution. And I want to be direct with you. Waiting is not a strategy. It is a hope with a deadline attached. I'm Shafiq Hirani, MBA, CCIM. I have watched a lot of owners try to time this market. I have not seen many succeed, but I have seen plenty succeed by being ready regardless of what rates did.
