I could live on my Social Security alone, as I wouldn’t have a house payment if I paid off the reverse mortgage.” ...

But whether you should refinance depends on more than just rates. Let’s look at where mortgage rates could be headed and what you should consider when thinking about refinancing in 2025 and beyond.

A Reddit user is currently trying to decide whether he should refinance his mortgage or not. He currently has a home loan at 8% on a 30-year fixed-rate mortgage. The current lender is offering a ...

We researched and evaluated rates, loan amounts and terms, customer experience, and more from leading lenders to help you find the best mortgage refinance company.

Learn when the right time to refinance your mortgage is based on current market conditions, your financial situation, and average refinancing costs. Business Insider Subscribe Newsletters ...

Say it costs you $6,000 to refinance your current loan, and your new mortgage will cost $300 less per month. In this case, it would take you 20 months, or a little less than two years, to break even.

Mortgage rates may drop even further in 2024 and 2025, so you could save more by waiting to refinance. Interest in refinancing is up in response to lower mortgage rates .

A Reddit poster has a net worth of $2.6 million, but he’s still in debt. Specifically, he owes $780,000 on his mortgage with an interest rate of 6.9%. He’s hoping to retire within the next 10 ...

My husband is 61 and I'm turning 60 soon, and I don't work. He has $15,000 in investments and $5,500 per month in disability income. Half of that income disappears in four years. His outstanding ...

If you make a one-time lump-sum payment without recasting, you'll pay off your mortgage two years and three months early, while saving more than $42,000 in interest.

But whether you should refinance depends on more than just rates. Let’s look at where mortgage rates could be headed and what you should consider when thinking about refinancing in 2025 and beyond.