A cash-out refinance replaces your current mortgage with a new, bigger one that converts some of your home’s equity to cash. The terms of your refinanced mortgage might significantly differ from your ...

The rate on a 30-year fixed refinance increased to 6.41% today, according to the Mortgage Research Center. Rates averaged ...

You have hefty financial goals or need to make a big-ticket purchase but don’t quite have the cash on hand. A cash-out refinance could be an option if you have a sizable amount of equity in your home.

Rising home values have translated into large equity gains over the past few years. As of 2024, homeowners hold an average of $315,000 in equity. A cash-out refinance allows you to tap into your home ...

Are you saddled down by debt? If so, you may be eligible for a cash-out refinance to make your debt load more manageable. But is this a smart financial move? It depends on your financial situation.

If you’re looking to renovate your home, consolidate debt or pay for a new car, the value you’ve built up in your home may be able to help cover large expenditures — and you have options. Common ways ...

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.

Kim is a freelance contributor to Newsweek’s personal finance team. She began her career on the Bankrate copy desk in 2010, worked as a managing editor at Macmillan and went full-time freelance in ...