Caroline Basile

1 week ago | forbes.com | Caroline Basile

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes. A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home’s value and pay that amount back in monthly installments.

1 week ago | forbes.com | Caroline Basile

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. The rate on a 30-year fixed refinance dropped to 6.86% today, according to the Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.8%, and for 20-year mortgages, the average is 6.65%.

1 week ago | forbes.com | Caroline Basile

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. The current average mortgage rate on a 30-year fixed mortgage is 6.79%, according to the Mortgage Research Center. The average rate on a 15-year mortgage is 5.79%, while the average rate on a 30-year jumbo mortgage is 7.08%.

1 week ago | forbes.com | Caroline Basile

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes. A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home’s value and pay that amount back in monthly installments.

1 week ago | forbes.com | Caroline Basile

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. The current average mortgage rate on a 30-year fixed mortgage is 6.81% with an APR of 6.84%, according to the Mortgage Research Center. The 15-year fixed mortgage has an average rate of 5.81% with an APR of 5.86%. On a 30-year jumbo mortgage, the average rate is 7.08% with an APR of 7.10%.