Key Takeaways A 1-point drop in mortgage rates can translate into hundreds of dollars in monthly savings.You can put extra money toward household bills, investing, or paying down debt faster.Closing ...

Debt falls on a spectrum. Mortgages and student loans can build long-term value, while high-interest credit cards and payday ...

This week the Freddie Mac 30-year fixed interest rate averaged 6.35%. Sam Khater, Freddie Mac’s chief economist, noted the 15 basis point-drop from last week was the largest weekly drop in a year.

Your location, loan amount and chosen lender can impact your refinancing costs.