The Federal Reserve just announced another rate cut. But will it matter to nervous homebuyers waiting for mortgage rates to fall? On Thursday, at the end of its November meeting, the Fed announced a 0.25 percentage point cut to the federal funds rate, or the rate at which banks lend each other money overnight. The … Read more
We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. Learn more. The wait is finally over. For the first time since March 2020, the Federal Reserve has cut short-term interest rates. On Wednesday, Fed Chairman Jerome … Read more
Money’s Main Takeaways: Buying a home is likely the biggest investment you will make. With mortgage rates hovering around 7%, finding the right lender is more important than ever. The best way to find the most competitive rates and terms that fit your financial needs is to shop around and compare products from at least … Read more
Money’s main takeaways: According to Money’s daily rate survey, the average rate on a 30-year fixed-rate mortgage increased to 6.757%, a change of 0.054 percentage points. According to Money’s daily rate survey, borrowers looking for a 30-year fixed-rate refinance loan found rates averaging 6.858%, an increase of 0.04 percentage points. Freddie Mac’s current rate for … Read more
Money’s main takeaways: Mortgage rates are currently at their lowest level since February 2024 providing many homeowners with a chance to refinance their higher-rate home loans. Home equity continued to set a new record high in June. A larger number of Americans are now also able to access that equity through cash-out refinancing, home equity … Read more
Ads by Money. We may be compensated if you click this ad.Ad Money’s Main Takeaways A reverse mortgage is a type of home loan specifically meant for seniors. Instead of making payments to your lender, you receive payments. A reverse mortgage can be a good idea for homeowners 62 and older if they meet the … Read more