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Beyond the pride of owning a home, there are significant financial benefits that come with it, especially during tax season. Navigating these benefits can sometimes be overwhelming due to the complexity of tax laws, but understanding them can provide substantial financial perks. Mortgage Interest Deduction Homeowners can deduct the interest they pay on their mortgage,…

Brief window for refinance boom expected following the rate change, expert says. In a significant shift from its previous monetary policy stance, the Federal Reserve announced Wednesday that it would lower its fund rate by 50 basis points to a range of 4.75% to 5%.   The move comes as concerns grow over slowing economic…

The Federal Reserve doesn’t set mortgage rates outright. But its decisions in setting interest rates do play a role in the percentages lenders offer would-be homeowners. And even if the Fed keeps things unchanged, mortgage rates can still fluctuate. So, overall, how do the Fed’s monetary-policy moves affect mortgages — and influence the cost of…

We publish daily coverage of mortgage rate movement and have done so for nearly 20 years now.  It’s a great place to quickly check in on rate trends and to get a sense of what’s true and what matters.  If you’d been checking in at any point in the past few days/weeks, you likely saw…

The Federal Reserve took the widely expected step Wednesday of announcing its first interest rate cut in years, a move that will have a major impact on the finances of Americans across the board, making borrowing cheaper, though the golden days of high-yield savings instruments may be over. Key Facts The Fed’s policy-setting committee cut the federal funds rate…

Key Points The Federal Open Market Committee chose to lower its key overnight borrowing rate by a half percentage point, or 50 basis points, amid signs that inflation was moderating and the labor market was weakening. It was the first interest rate cut since the early days of the Covid pandemic. Outside of the emergency…