Mortgages & Rates
Mortgage rate movements, refinancing, loan types, rate locks, lender comparisons, and how interest rates affect housing affordability.
Latest in Mortgages & Rates
Once you owe less than 80% of your home’s value, you can demand your lender drop private mortgage insurance
Millions of homeowners with conventional mortgages are paying monthly private mortgage insurance premiums they no longer owe. Federal law gives borrowers the right to demand...
The average 30-year mortgage has hovered near 6.55% for nine straight weeks
Homebuyers and existing borrowers hoping for cheaper monthly payments have watched the 30-year fixed mortgage rate sit in a tight band near 6.5 percent for...
The federal reverse-mortgage limit rose to $1,249,125 in 2026, letting seniors borrow more against their homes
Seniors with high-value homes will be able to tap significantly more equity through federally insured reverse mortgages starting Jan. 1, 2026. The Department of Housing...
Homeowners 62 and older are sitting on about $200,000 in equity they can tap without monthly payments
Millions of older Americans own homes with significant equity built up over decades of payments and price appreciation, yet most never convert that wealth into...
Homeowners 62 and older hold a record $14.39 trillion in equity, and the reverse-mortgage limit just rose to $1,249,125
For many older Americans, the largest asset they own is not a brokerage account or a pension. It is the house itself, paid down over...
Once your mortgage drops below 80% of the home’s value, you can ask to cancel PMI
Homeowners paying private mortgage insurance on a conventional loan have a federal right to request its removal once their loan balance drops to 80 percent...
Inherit a home with a reverse mortgage and you owe the balance or 95% of its value, never more
Families who inherit a home tied to a federally insured reverse mortgage face a hard deadline and a specific financial ceiling. When the borrower dies,...
Fannie Mae is giving some first-time buyers a $2,500 credit toward a down payment
First-time homebuyers earning very low incomes can now receive a $2,500 credit from Fannie Mae or Freddie Mac to put toward a down payment or...
The 2026 reverse-mortgage limit rose to $1,249,125, letting older owners borrow more
Older homeowners who want to tap their home equity through a federally insured reverse mortgage can now borrow against a higher property value. The nationwide...
Fannie Mae is dropping its minimum credit score to help first-time buyers qualify
First-time homebuyers with limited credit histories stand to benefit from a federal policy shift that allows lenders to use a newer scoring model when selling...
A younger spouse left off a reverse mortgage can now stay in the home for life
Surviving spouses who were left off a reverse mortgage now have a federally protected right to stay in their homes after the borrower dies, a...
Putting a lump sum toward your mortgage and asking for a recast lowers your monthly payment for good, without refinancing
Homeowners who have built up savings or received a windfall are looking for ways to cut housing costs without giving up an existing mortgage rate....
Once you owe less than 80% of your home’s value, you can demand your lender drop private mortgage insurance
Homeowners paying private mortgage insurance on a conventional loan have a federal right to demand its removal the moment their balance drops to 80% of...
A lump sum and a mortgage ‘recast’ lower your payment for good, without refinancing
Homeowners locked into mortgage rates above 5 percent are finding a way to permanently cut their monthly payments without refinancing, closing costs, or a new...
Two costs your lender can’t lock in, insurance and property taxes, are quietly breaking the 30-year mortgage
Homeowners who locked in a 30-year fixed-rate mortgage expecting stable monthly payments are watching those payments climb anyway. The culprit is not the interest rate....
Putting a lump sum toward your mortgage and recasting lowers the payment without refinancing
Homeowners sitting on a windfall, whether from an inheritance, a bonus, or the sale of another asset, can cut their monthly mortgage payment without the...
Homeowners 62 and older can tap home equity with a reverse mortgage and make no monthly payments
Homeowners aged 62 and older who have built up equity in their homes can convert that wealth into cash through a federally insured reverse mortgage...
Splitting your mortgage into biweekly half-payments slips in one extra payment a year and can shave years off it
Homeowners who split their monthly mortgage payment into two biweekly installments effectively make one full extra payment each year, a simple scheduling change that can...
Putting a lump sum toward your mortgage and asking for a recast lowers the monthly payment without refinancing
Homeowners who locked in fixed-rate mortgages before interest rates climbed can still cut their monthly payments without giving up those favorable terms. A mortgage recast,...
A reverse mortgage can free up cash in retirement, but the loan balance grows and can eat the home equity you leave behind
Retirees who tap their home equity through a reverse mortgage gain immediate spending power, but the trade-off is concrete: interest compounds on the loan balance...