Mortgages & Rates
Mortgage rate movements, refinancing, loan types, rate locks, lender comparisons, and how interest rates affect housing affordability.
Latest in Mortgages & Rates
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...
Mortgage discount points cost about 1% of the loan to buy down your rate, paying off only if you stay put
Homebuyers who pay mortgage discount points hand over a fee equal to 1% of their loan amount at closing in exchange for a lower interest...
A home-equity line now averages well above 8%, so tapping your house costs far more than your old mortgage
Homeowners sitting on record equity are discovering that their house has become a much more expensive ATM. While many locked in fixed mortgage rates near...
A year ago the 30-year mortgage averaged 6.81%; today’s 6.5% has barely dented record home prices
Homebuyers hoping that a year of modest rate relief would cool prices have found little comfort. The 30-year fixed mortgage averaged 6.81% in a June...
Once you owe less than 80% of your home’s value, you can demand the lender cancel private mortgage insurance
Homeowners paying private mortgage insurance on conventional loans have a federal right to cancel that coverage once their loan balance drops to 80 percent of...
The 30-year mortgage is averaging about 6.47% after the Fed signaled no rate cuts
Homebuyers shopping for a fixed-rate loan this week face a 30-year mortgage rate averaging 6.47 percent, a level that keeps monthly payments elevated even as...
Mortgage rates jumped within hours of the Fed’s decision and erased a week of relief
Homebuyers who spent the past week watching borrowing costs edge lower got a rude reversal on September 17, 2025, when mortgage rates climbed back within...
Home-equity and variable-rate borrowers got no relief from the Fed’s decision
Millions of Americans carrying home-equity lines of credit and adjustable-rate mortgages will keep paying the same elevated rates after the Federal Reserve held its benchmark...
A home-equity line lets you tap your house at rates well below most credit cards, but your home is the collateral
Homeowners carrying high-interest credit card balances face a straightforward but high-stakes trade-off: a home-equity line of credit, or HELOC, lets them borrow against their property...
Mortgage rates fell to a one-month low of 6.31% after the Iran deal
Homebuyers shopping for a fixed-rate mortgage caught a break after the Iran nuclear deal pushed rates to 6.31 percent, the lowest print in roughly a...
The 30-year mortgage is averaging about 6.6% as inflation keeps rates elevated
Homebuyers shopping for a fixed-rate loan in mid-2026 are paying roughly 6.6 percent on a 30-year mortgage, a level that has barely budged since late...
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...