It can make a lot of sense to lock in a mortgage rate now that rates are sitting at a two-year low. /iStockphoto . For the last few years, potential homebuyers have fa

Key Takeaways The Fed cut interest rates yesterday, which may be welcome relief for homeowners hoping to refinance their mortgages and secure lower rates.The Fed does not directly impact mortgage 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.

Mortgage rates may be dropping, but it's up to you to know refinancing makes the most sense. Here's how to figure it out.

Expect to pay closing costs between 2% and 6% of the loan amount when refinancing a mortgage. Here’s a closer look at the different types of fees.

People who bought homes in the past two years may want to seek a lower interest rate. Here’s how to think it through — and how to shop.

In early August, refinance applications were up nearly 60% versus the same period a year earlier, according to the Mortgage Bankers Association. The chance to refinance at a lower rate may be especially appealing for those who bought homes in 2023 when mortgage rates surged above 7%.