Your monthly mortgage payment amount depends on several factors, and it might surprise you to know that purchase price isn’t one of them. Those factors vary from person to person, so your mortgage payment could be very different from that of another buyer paying the same price for a house. Learn More: 2 Times It Doesn’t Make Sense To Pay Off Your Mortgage Early Read Next: 8 Common Mistakes Retirees Make With Their Social Security Checks Keep reading to learn about the factors that affect your monthly mort ...

Mortgage rates are at their lowest point since early October of last year. According to Freddie Mac, the national average 30-year rate is now 6.26%, down nine basis points in one week. The 15-year fixed mortgage rate is down by the same measure to 5.41%. This is yet another new low for 2025. “Mortgage rates decreased yet again this week, prompting many homeowners to refinance. In fact, the share of mortgage applications that were refinances reached nearly 60%, the highest since January 2022,” Sam Khater, ...