Since 2022, refinancing activity has gone down in response to surging mortgage rates. But with inflation normalizing and the Federal Reserve positioning itself to cut interest rates next month, mortgage rates should gradually decline. As that happens, more homeowners, especially those with high rates on their home loans, will benefit from a refinance. Today’s average
Photo by: Jim Lane/Education Images/Universal Images Group via Getty Images For a 30-year fixed-rate mortgage, the average rate you’ll pay is 6.52% today, a decrease of -0.03% over the last week. The average rate for a 15-year fixed mortgage is 5.88%, which is a decrease of -0.04% from the same time last week. For a
If the latest Cash App data breach freaked you out, you’re not alone. The peer-to-peer payment platform and its parent company, Block, failed to safeguard unauthorized access to Cash App customer accounts in 2022. In return, Cash App agreed to a $15 million class-action settlement. While that’s a step in the right direction, it didn’t calm my
David Paul Morris/Bloomberg via Getty Images Since 2022, refinancing activity has gone down in response to surging mortgage rates. But with inflation normalizing and the Federal Reserve positioning itself to cut interest rates next month, mortgage rates should gradually decline. As that happens, more homeowners, especially those with high rates on their home loans, will
I mulled over freezing my credit for weeks before I did it. As a personal finance editor covering identity theft, I knew it would make it harder for cybercriminals to open a new credit account in my name — but it would also make it difficult for me. When you freeze your credit, you have
I thought for weeks about freezing my credit. As a personal finance editor covering identity theft, I knew it would make it harder for cybercriminals to open a new credit account in my name — but it would also create an obstacle for me. When you freeze your credit, you have to manually unfreeze or
When my clients first build a budget, I notice they often make one key mistake: They don’t include saving or paying off debt as a line item. They plan for the expenses they know they’ll have, like rent and necessities. Then, they assume they’ll use any leftover money for other goals, but it’s an afterthought.
The Federal Reserve has kept interest rates elevated for the past year, translating to stubbornly high mortgage rates. However, inflation is moderating, and the labor market is weakening, indicating that the economic tide is starting to turn. Though the chance of an interest rate cut following the Federal Open Market Committee’s July 30-31 meeting is
Photo by Roberto Machado Noa/LightRocket via Getty Images For a 30-year fixed-rate mortgage, the average rate you’ll pay is 6.86% today, an increase of 0.01% from seven days ago. The average rate for a 15-year fixed mortgage is 6.29%, which is an increase of 0.00% from the same time last week. For a look at
The average for a 30-year fixed-mortgage is 6.82% today, a decrease of -0.12% from seven days ago. The average rate for a 15-year fixed mortgage is 6.23%, which is a decrease of -0.17% from the same time last week. For a look at mortgage rate movement, see the chart below. The Federal Reserve has been