Mortgages & Rates
Mortgage rate movements, refinancing, loan types, rate locks, lender comparisons, and how interest rates affect housing affordability.
Latest in Mortgages & Rates
Recasting your mortgage after a lump-sum payment lowers the monthly bill without refinancing
Homeowners sitting on a lump sum of cash, whether from an inheritance, a bonus, or the sale of another property, can cut their monthly mortgage...
A HELOC lets homeowners borrow against their equity, with the house as collateral
Homeowners who have built equity in their properties can convert that value into a revolving credit line, but the trade-off is direct: the house itself...
Comparing three mortgage lenders can save a borrower thousands over the loan
Homebuyers who accept the first mortgage rate they receive can end up paying thousands of dollars more than borrowers with identical credit profiles who collect...
A reverse mortgage lets homeowners 62 and up borrow against equity, payment-free
Homeowners who are at least 62 years old can borrow against the equity they have built in their homes without making monthly mortgage payments, a...
A 15-year mortgage costs more each month but saves tens of thousands in interest over a 30-year loan
Homebuyers who opt for a 15-year fixed mortgage face monthly payments that can run hundreds of dollars higher than a 30-year alternative on the same...
Once you owe less than 80% of your home’s value, you can demand your lender drop private mortgage insurance
Homeowners who have paid down their mortgage balance to less than 80 percent of their home’s value hold a legal right to demand that their...
Paying your mortgage every two weeks adds one extra payment a year and can shave years off the loan
Homeowners who split their monthly mortgage into two payments every two weeks end up making the equivalent of one extra full payment each year, a...
Getting estimates from three lenders can save thousands, and a rate lock holds the number while you close
Nearly half of all mortgage borrowers apply with just one lender, according to federal survey data, even though collecting three or more Loan Estimates can...
Putting a lump sum toward your mortgage and asking for a recast lowers the monthly payment without refinancing
Homeowners sitting on savings from a bonus, inheritance, or property sale can reduce their monthly mortgage payment without touching the interest rate on their existing...
Refinance applications are running 62% higher than a year ago as 30-year mortgage rates slip back toward 6.3%
Homeowners with mortgages locked in above 7 percent now have a widening window to cut their monthly payments. Refinance applications are running 62 percent higher...
Drop private mortgage insurance once you owe under 80% of your home’s value
Homeowners paying private mortgage insurance on conventional loans can request its removal once their principal balance drops to 80% of the home’s original value, a...
Home sales just climbed to their highest level since October 2022, even with the typical 30-year mortgage near 6.57%
Buyers closed on more existing homes in May than in any month since October 2022, according to two separate industry trackers, even as the average...
Once you owe less than 80% of your home’s value, you can demand your lender cancel private mortgage insurance
Millions of homeowners with conventional mortgages are paying a monthly surcharge they have a legal right to eliminate. Under federal law, borrowers whose loan balance...
Cash-out refinances just hit a 14-year high — homeowners are trading sub-3% mortgages for 6.51% to pay off credit cards, often adding $900 a month to the payment
Somewhere in America, a homeowner who locked in a 2.75 percent mortgage during the pandemic is sitting at a kitchen table, staring at $25,000 in...
Adjustable-rate mortgages locked in at sub-3% during 2021 are resetting this year — the average reset adds about $700 to the monthly payment
The first wave of payment shock is arriving. Homeowners who signed 5/1 adjustable-rate mortgages in 2021, when introductory rates dipped below 3 percent, are now...
Existing-home sales nudged up in April while inventory rose 5.8% — meaning buyers can now demand a seller cover up to 6% of closing costs on a conventional loan
The spring housing market was supposed to wake up. Instead, it barely stirred. Existing-home sales rose just 0.2% in April 2026 to a seasonally adjusted...
HUD-approved housing counselors review your full mortgage situation for free — homeowners who use one avoid foreclosure at roughly twice the rate of those who go it alone
The letter from the servicer usually arrives about 45 days after a missed mortgage payment. It’s polite, bureaucratic, and easy to set aside. Then a...
Conventional-loan buyers can ask sellers to cover up to 6% of closing costs — a routine concession nearly half of 2026 buyers are negotiating into the contract
When Marcus and Tia Reynolds found a four-bedroom listing in suburban Charlotte priced at $385,000, their agent suggested something that would have been laughed off...
A reverse mortgage lets a 62-year-old homeowner tap home equity tax-free — but new HUD rules require both spouses on the loan, or the survivor can be evicted
After 34 years in the same house, a 74-year-old widow in a complaint filed with the Consumer Financial Protection Bureau described learning, only after her...
First-time buyers can claim up to $2,000 a year in federal tax credits for life through a Mortgage Credit Certificate — yet fewer than 30,000 borrowers used one in 2025
Consider a hypothetical first-time buyer who closes on a $280,000 mortgage in Texas. At the closing table, her loan officer hands her a document that...