A cash-out refinance is a way to access cash by replacing your current mortgage with a new, larger loan. But if mortgage rates have risen since you bought your home, the costs may not be worth it.

Commissions do not affect our editors' opinions or evaluations. Refinancing your mortgage could be a good choice if you can qualify for better terms, such as a lower interest rate, or to help you ...

Natalie toggles between news stories and enterprise reporting to bring timely personal finance topics to readers. Her mission is to help inform people of all financial backgrounds about events ...

It’s possible by refinancing your mortgage. It’s done by taking out a new mortgage loan and paying off the old one, meaning you’ve replaced the old one with a new one with better terms.

The average single retiree in good health requires anywhere from $25,188 to $38,988 to meet annual expenses, according to ...

Even though interest rates are higher than they were a few years ago, both new homebuyers and current homeowners looking to refinance can secure a good rate today. Plus, borrowers may soon see ...

The rate on a 30-year fixed refinance decreased to 6.98% today, according to the Mortgage Research Center. Rates averaged 5.96% for a 15-year financed mortgage and 6.85% for a 20-year financed ...

The Fed maintained the federal funds rate at its peak level for almost 14 months, beginning in July 2023. But in September, the central bank announced a first rate cut of 0.50 percentage points, and ...

The are many reasons to refinance. However, when you finally decide to exchange your old home loan for a new one, the lender you choose could be the most important decision. The best mortgage ...

But a cash-out refinance does just that — by replacing your existing mortgage, you can draw a lump sum from the value accrued in your home. There are considerations to weigh, of course.