Wes Morgan
Commercial Broker AssociateBeverly-Hanks, REALTORS®
NAI Beverly-Hanks
Email: [email protected]
Cell: (828) 242-1894
Office: (828) 210-3940
Team Member Since 2004
About Me
Wes enjoyed a successful business career in New York City as National Accounts Officer with Irving Trust Co. travelling to Iowa, Illinois and Minnesota.
He returned to his hometown of Asheville and presided as President & Treasurer…Read More
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Why isn’t it a good idea to pay off your mortgage?
Paying off a mortgage quickly doesn’t make a lot of financial sense, but it does give a lot of homeowners a great deal of comfort. For it to make sense for you, the investment’s annualized rate of return needs to earn more than the cost of your mortgage interest rate. With many homeowners sitting on some of the lowest rates in history, (3.5%–5.5%) it’s not hard to achieve a higher rate of return. What makes it hard is that there are few guarantees in investments. While the stock market has produced a rate of return close to 10% over the last 90 years, individual investments lose money every day. Even real estate can include risk from market conditions and lack of liquidity. Working with a professional financial planner and mortgage loan officer is the best way to achieve confidence in your personal financial goals.
