Should You Refinance Your Mortgage Now That the Fed Just Cut Rates?
Refinancing your mortgage can help you get a lower monthly payment. You also have the opportunity to change up your loan type and term. A cash-out refinance is another mortgage refinancing option that lets you convert home equity into cash. That lump sum could pay for a home renovation or to retire high-interest credit card or student loan debt.
Today’s 30-year mortgage interest rates remain at 5.990% while 15-year rates drop to 4.990%
The median interest rate on a 30-year fixed-rate mortgage is 5.990% as of September 16, which is unchanged from Friday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 4.990%, which is 0.010 percentage points lower than on Friday.
In early August, refinance applications were up nearly 60% versus the same period a year earlier, according to the Mortgage ...
Additionally, interest rates on 15-year mortgages are usually lower than 30-year mortgage rates. What is an adjustable-rate mortgage (ARM)? An ARM is a type of mortgage where you pay a fixed ...
Then, your rate adjusts once annually. 5/1 ARM mortgage introductory rates are often lower than the rates on fixed-rate loans, but they come with a risk: If interest rates rise in the future ...
The rate for the most popular home loan fell 14 basis points in the week ended Sept. 13 to 6.15%, marking the lowest rate ...
ARM mortgage rates can adjust upward and downward as economic conditions change, which is an advantage when rates are falling and a drawback when they rise. If you’re planning to buy a home in ...
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