The current mortgage rate on a 30-year fixed mortgage rose by 2.00% in the last week to 6.31%, according to the Mortgage Research Center. Meanwhile, the APR on a 15-year fixed mortgage climbed 0.14 percentage point during the same period to 5.

Explore current mortgage rates and what they mean for homebuyers.

The average rate on a 30-year U.S. mortgage fell for the fourth week in a row to its lowest level in more than a year.

Home equity loans and home equity lines of credit (HELOCs) allow homeowners to tap into the value of their homes. A home equity loan is a fixed-rate, lump-sum loan that allows homeowners to borrow up to 85% of their home's value and pay that amount back in monthly installments.

Mortgage interest rates are the lowest they've been since 2022, but there are multiple ways to get one even lower.

After you submit your mortgage application, the lender will begin the underwriting process to decide whether they'll approve or deny the loan. You can expect the underwriting process to take anywhere from 30 to 60 days to complete.

Much of the third quarter is effectively on paper and can be attributed to a $479.6 million decline in the value of its portfolio of mortgage servicing rights (MSRs), closed loans the company keeps on its books and which rise or fall in value with changes in interest rates.