Mortgage and HELOC payments decline following October Fed rate cut
TL;DR Summary
Following recent Fed rate cuts, the average 30-year fixed mortgage rate is now 6.17%, leading to a monthly payment of approximately $4,273.67 on a $700,000 loan, which is lower than earlier rates and can result in significant savings for borrowers. Shorter-term 15-year loans and refinancing options are also discussed as ways to potentially reduce costs further.
- What are the monthly payments on a $700,000 mortgage after the October Fed rate cut? CBS News
- How much does a $500,000 mortgage loan cost monthly after the Fed's October rate cut? CBS News
- Here's what a $100,000 HELOC costs monthly following the Fed October interest rate cut MSN
- HELOCs drop to 2023 lows, home equity loans hold steady Bankrate
- HELOC rates today, November 5, 2025: Rates are heading lower Yahoo Finance
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