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Typical home buyers in the United States either move or refinance their home loans on average...

Typical home buyers in the United States either move or refinance their home loans on average roughly every five years. In class we discussed like in the game of Candy Land going backwards is not a good thing for you financially or in winning the game. Explain what this means.
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Well going backwards is obviously a bad idea particularly in finance. From the above statement, a home buyer in unites states either move to other place or refinance their home loans on every 5 years.

Refinancing is actually a wonderful thing in loans that is through this method one of the common goal is to pay less interest over the life of the loan and also borrower can change the time duration of the loan. This will obviously reduce the financial burden of a working class family. That is before refinancing a person was giving 9% interest on his house loan but after the finance this might can reduced to 7.5%.

therefore that person can save 1.5% and can be utilised for his personnel needs or investing.

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