Want more housing market stories from Lance Lambert’s ResiClub in your inbox? Subscribe to the ResiClub newsletter. Most Read from Fast Company Heading into the fall last year, the average 30-year fixed mortgage rate slipped to a low of 6.07% by September 17, 2024, as the market reacted to weaker-than-expected labor market data. At that point, there was a noticeable upswing in refinances as some 2022–2024 borrowers took the opportunity to get payment relief. However, it was short-lived and quickly fizzl ...

With mortgage rates falling, you may be tempted to get an extra discount on a refinance during the Chase Home Loans mortgage rate sale. However, time is not on your side. Read more: The best mortgage refinance lenders right now The mortgage refinance rate sale deadline The Chase promotion on rate-and-term and cash-out refinances ends Sunday, Sept. 21. To earn the discount, customers must lock in their refinancing rate before the deadline. How much of a discount? According to Chase, "Discounts will var ...

Mortgage rates fell for yet another week. According to Freddie Mac, the 30-year fixed-rate and 15-year fixed-rate mortgages dropped nine basis points to 6.26% and 5.41%, respectively. The share of mortgage applications attributed to refinances reached nearly 60%, the highest since January 2022. However, these rates were collected prior to the Fed quarter-point rate cut that was announced yesterday. The "Fed effect" won't truly be measured for another week. Whether that's lower — or higher — mortgage rat ...

Refinancing your mortgage can help you achieve a variety of goals, such as lowering your monthly payment, paying off your loan early, taking out cash, or getting rid of mortgage insurance. Here are seven types of mortgage refinance options you can choose from — and what each one means for your finances. Read more: 6 times when it's a good idea to refinance your mortgage The 7 types of home loan refinances Here is a basic run-down of the types of mortgage refinances you can choose from. Do a couple look ...