Here’s How Much Your Mortgage Payment Drops for Every 0.25% Rate Cut

With mortgage rates still hovering in the 6% to 7% range, even a small rate cut can make a meaningful difference in your monthly payment. But exactly how much does a quarter-point drop actually save you? The answer depends on your loan size, but the savings are more significant than most people realize. Here’s the math broken down for loans ranging from $300,000 to $1 million. The Quick Answer: $48 to $160 Per Month For every 0.25% rate reduction on a 30-year fixed mortgage, your monthly payment drops ...