Houses and Spouses: What Zillow Taught Match CEO
Spencer Rascoff tells the WSJ Future of Everything event how he applies what he learned at Zillow to his work at Match Group.
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Yahoo
30 minutes ago
- Yahoo
Mortgage and refinance interest rates today, June 8, 2025: A sharp turn higher
Mortgage rates are noticeably higher today. According to Zillow, the average 30-year fixed interest rate is up 12 basis points to 6.85%, while the 15-year fixed rate gained a whopping 21 basis points to 6.16%. The Mortgage Bankers Association forecasts 30-year rates to remain mostly unchanged and near 6.7% through September, ending the year close to 6.6%. Only a sudden shock to the nation's economy could change that outlook. If you're looking to buy in 2025, you'll want to work to earn the lowest mortgage rate you deserve. Dig deeper: 6 steps to choosing the right mortgage lender Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.85% 20-year fixed: 6.58% 15-year fixed: 6.16% 5/1 ARM: 7.16% 7/1 ARM: 7.23% 30-year VA: 6.42% 15-year VA: 5.86% 5/1 VA: 6.44% Remember, these are the national averages and rounded to the nearest hundredth. These are today's mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.89% 20-year fixed: 6.78% 15-year fixed: 6.23% 5/1 ARM: 7.57% 7/1 ARM: 7.68% 30-year VA: 6.51% 15-year VA: 6.28% 5/1 VA: 6.30% Again, the numbers provided are national averages rounded to the nearest hundredth. Mortgage refinance rates are often higher than rates when you buy a house, although that's not always the case. Read more: Is now a good time to refinance your mortgage? Use the mortgage calculator below to see how various mortgage terms and interest rates will impact your monthly payments. Our free mortgage calculator also considers factors like property taxes and homeowners insurance when determining your estimated monthly mortgage payment. This gives you a more realistic idea of your total monthly payment than if you just looked at mortgage principal and interest. The average 30-year mortgage rate today is 6.85%. A 30-year term is the most popular type of mortgage because by spreading out your payments over 360 months, your monthly payment is lower than with a shorter-term loan. The average 15-year mortgage rate is 6.16% today. When deciding between a 15-year and a 30-year mortgage, consider your short-term versus long-term goals. A 15-year mortgage comes with a lower interest rate than a 30-year term. This is great in the long run because you'll pay off your loan 15 years sooner, and that's 15 fewer years for interest to accumulate. But the trade-off is that your monthly payment will be higher as you pay off the same amount in half the time. Let's say you get a $300,000 mortgage. With a 30-year term and a 6.85% rate, your monthly payment toward the principal and interest would be about $1,966, and you'd pay $407,680 in interest over the life of your loan — on top of that original $300,000. If you get that same $300,000 mortgage with a 15-year term and a 6.16% rate, your monthly payment would jump to $2,558. But you'd only pay $160,364 in interest over the years. With a fixed-rate mortgage, your rate is locked in for the entire life of your loan. You will get a new rate if you refinance your mortgage, though. An adjustable-rate mortgage keeps your rate the same for a predetermined period of time. Then, the rate will go up or down depending on several factors, such as the economy and the maximum amount your rate can change according to your contract. For example, with a 7/1 ARM, your rate would be locked in for the first seven years, then change every year for the remaining 23 years of your term. Adjustable rates typically start lower than fixed rates, but once the initial rate-lock period ends, it's possible your rate will go up. Lately, though, some fixed rates have been starting lower than adjustable rates. Talk to your lender about its rates before choosing one or the other. Dig deeper: Fixed-rate vs. adjustable-rate mortgages Mortgage lenders typically give the lowest mortgage rates to people with higher down payments, great or excellent credit scores, and low debt-to-income ratios. So, if you want a lower rate, try saving more, improving your credit score, or paying down some debt before you start shopping for homes. Waiting for rates to drop probably isn't the best method to get the lowest mortgage rate right now. If you're ready to buy, focusing on your personal finances is probably the best way to lower your rate. To find the best mortgage lender for your situation, apply for mortgage preapproval with three or four companies. Just be sure to apply to all of them within a short time frame — doing so will give you the most accurate comparisons and have less of an impact on your credit score. When choosing a lender, don't just compare interest rates. Look at the mortgage annual percentage rate (APR) — this factors in the interest rate, any discount points, and fees. The APR, which is also expressed as a percentage, reflects the true annual cost of borrowing money. This is probably the most important number to look at when comparing mortgage lenders. Learn more: Best mortgage lenders for first-time home buyers According to Zillow, the national average 30-year mortgage rate is 6.85%, and the average 15-year mortgage rate is 6.16%. But these are national averages, so the average in your area could be different. Averages are typically higher in expensive parts of the U.S. and lower in less expensive areas. The average 30-year fixed mortgage rate is 6.85% right now, according to Zillow. However, you might get an even better rate with an excellent credit score, sizable down payment, and low debt-to-income ratio (DTI). Mortgage rates aren't expected to drop drastically in the near future, though they may inch down now and then.
Yahoo
30 minutes ago
- Yahoo
HELOC rates today, June 8, 2025: Interest rates on home equity lines of credit sharply higher
HELOC interest rates took a sharp turn higher today. The bond market saw a sell-off on Friday, pushing consumer lending rates higher as nervous bankers added to their profit spread. Known as a second mortgage, home equity line of credit accounts, and the lump sum version — the home equity loan — allow homeowners to keep their existing primary home loan while creating a new mortgage, especially designed for home equity access. Now, the details on HELOC rates today. Dig deeper: HELOC vs. home equity loan: Tapping your equity without refinancing According to Zillow, rates on a 10-year HELOC are up 12 basis points to 6.85% today. The same rate is also available on 15- and 20-year HELOCS. VA-backed HELOCs moved higher by 14 basis points to 6.42%. Homeowners have a staggering amount of value tied up in their houses — more than $34 trillion at the end of 2024, according to the Federal Reserve. That's the third-largest amount of home equity on record. With mortgage rates lingering in the high 6% range, homeowners are not going to let go of their primary mortgage anytime soon, so selling a house may not be an option. Why let go of your 5%, 4% — or even 3% mortgage? Accessing some of that value with a use-it-as-you-need-it HELOC can be an excellent alternative. HELOC interest rates are different from primary mortgage rates. Second mortgage rates are based on an index rate plus a margin. That index is often the prime rate, which today is 7.50%. If a lender added 1% as a margin, the HELOC would have a rate of 8.50%. However, you will find reported HELOC rates are much lower than that. That's because lenders have flexibility with pricing on a second mortgage product, such as a HELOC or home equity loan. Your rate will depend on your credit score, the amount of debt you carry, and the amount of your credit line compared to the value of your home. And average national HELOC rates can include "introductory" rates that may only last for six months or one year. After that, your interest rate will become adjustable, likely beginning at a substantially higher rate. You don't have to give up your low-rate mortgage to access the equity in your home. Keep your primary mortgage and consider a second mortgage, such as a home equity line of credit. The best HELOC lenders offer low fees, a fixed-rate option, and generous credit lines. A HELOC allows you to easily use your home equity in any way and in any amount you choose, up to your credit line limit. Pull some out; pay it back. Repeat. Meanwhile, you're paying down your low-interest-rate primary mortgage like the wealth-building machine you are. Today, LendingTree is offering a HELOC rate of 6.50% for a credit line of $150,000. That's likely an introductory rate that will convert to a variable rate later. When shopping lenders, be aware of both rates. And as always, compare fees, repayment terms, and the minimum draw amount. The draw is the amount of money a lender requires you to initially take from your equity. The power of a HELOC is tapping only what you need and leaving some of your line of credit available for future needs. You don't pay interest on what you don't borrow. Rates vary so much from one lender to the next that it's hard to pin down a magic number. You may see rates from nearly 7% to as much as 18%. It really depends on your creditworthiness and how diligent a shopper you are. For homeowners with low primary mortgage rates and a chunk of equity in their house, it's probably one of the best times to get a HELOC. You don't give up that great mortgage rate, and you can use the cash drawn from your equity for things like home improvements, repairs, and upgrades. Of course, you can use a HELOC for fun things too, like a vacation — if you have the discipline to pay it off promptly. A vacation is likely not worth taking on long-term debt. If you take out the full $50,000 from a line of credit on a $400,000 home, your payment may be around $395 per month with a variable interest rate beginning at 8.75%. That's for a HELOC with a 10-year draw period and a 20-year repayment period. That sounds good, but remember, it winds up being a 30-year loan. HELOCs are best if you borrow and pay back the balance in a much shorter period of time.
Geek Wire
18 hours ago
- Geek Wire
Zillow co-founder Rich Barton on the ‘provocation marketing playbook' that can boost your brand
GeekWire's startup coverage documents the Pacific Northwest entrepreneurial scene. Sign up for our weekly startup newsletter , and check out the GeekWire funding tracker and venture capital directory . Rich Barton. (Zillow Photo) Here's a marketing tip for companies on a tight budget: be provocative. That's the strategy Zillow used in its early days in Seattle, according to Rich Barton, the company's co-founder who joined the Tim Ferriss Show on a recent podcast. Barton previously co-founded Expedia, which spent heavily on marketing to drum up interest in the travel company's brand. But early Zillow investor Bill Gurley challenged the burgeoning Seattle startup to imagine if it didn't have any marketing budget. 'We were like, 'No way, you can't do that,'' Barton recalled. 'But that made us think a lot more creatively about the features that we built, the way we built them, and then the way we PR communicated them.' Zillow recognized that the data it was collecting on housing prices was valuable for newspapers and built a mechanism to 'constantly feed the endless appetite,' Barton noted. That was a big brand builder — with no ad money spent. 'When you have constantly changing data that people are interested in, you can almost think about feeding that data to hungry consumers in a Bloomberg-like way,' he said. The company then launched its now-famous 'Zestimate' home estimate tool in 2006 — which drew more than 1 million visitors within the first three days and crashed the site. 'When you have a really provocative feature that you know people are going to feel emotional about one way or the other and they're going to talk about it, you're on to something,' Barton said. Since then Barton said he has developed a playbook around what he calls 'provocation marketing.' 'I'm a big believer in the product being the most important part of the marketing mix, if that makes sense to you,' Barton said. Barton, who stepped down as Zillow's CEO last year, also pointed to Glassdoor, the review and salary database site he co-founded. 'We knew salaries [were] a little bit taboo for a lot of people — so it was inherently secret and provocative,' he said. Companies can do too much that may offend or turn off consumers — so there's a balance. You don't want to scare people or piss them off. 'If you're building a brand and a service, you want people to be provoked — but feel good, or tickled, or entertained,' Barton said. He added: 'Provocation marketing with a heart, with the end consumer's best interests in mind — that's a winner.' Barton and Ferris covered a number of other topics during their conversation, including the early days at Expedia, advice on hiring and firing, balancing family and professional life, and other leadership tips.
