Latest news with #CompanionPass
Yahoo
18-03-2025
- Business
- Yahoo
Mortgage and refinance rates today, March 18, 2025: Rates fluctuate before Fed meeting
Today's mortgage rates are a bit unsteady. For example, according to Zillow, the 30-year fixed interest rate is down two basis points to 6.57%, and the 20-year fixed rate has decreased by six basis points to 6.39%. On the other hand, the 15-year fixed rate has increased by eight basis points to 6.01%. We may see home loan rates shift one way or the other after tomorrow's Federal Reserve meeting. The Fed isn't expected to cut the federal funds rate — but Fed Chair Jerome Powell's commentary after the meeting could indicate what the central bank expects to do over the next few months. Dig deeper: How the Federal Reserve rate decision affects mortgage rates Here are the current mortgage rates, according to our latest Zillow data: 30-year fixed: 6.57% 20-year fixed: 6.39% 15-year fixed: 6.01% 5/1 ARM: 6.64% 7/1 ARM: 6.74% 30-year VA: 6.12% 15-year VA: 5.68% 5/1 VA: 5.10% Remember that these are the national averages and rounded to the nearest hundredth. Read more: How to get the lowest mortgage rates possible Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. These are the current mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.65% 20-year fixed: 6.38% 15-year fixed: 6.12% 5/1 ARM: 6.74% 7/1 ARM: 6.79% 30-year VA: 6.28% 15-year VA: 6.07% 5/1 VA: 6.10% 30-year FHA: 6.00% 15-year FHA: 5.75% Again, the numbers provided are national averages rounded to the nearest hundredth. Refinance rates are usually higher than purchase rates. Limited-time offer: Earn Southwest's Companion Pass as a credit card welcome bonus A mortgage calculator can help you see how various mortgage term lengths and interest rates will affect your monthly payments. Use the free Yahoo Finance mortgage calculator to play around with different outcomes. Our calculator also considers factors like property taxes and homeowners insurance when calculating your estimated monthly mortgage payment. This gives you a better idea of your total monthly payment than if you just looked at mortgage principal and interest. As a rule of thumb, 15-year mortgage rates are lower than 30-year mortgage rates. When comparing 15- versus 30-year mortgage rates, know that the shorter term will save you money on interest in the long run. However, your monthly payments will be higher because you're paying off the same loan amount in half the time. For example, with a $400,000 mortgage with a 30-year term and a 6.57% rate, you'll make a monthly payment of about $2,547 toward your mortgage principal and interest. As interest accumulates over decades, you'll end up paying $516,817 in interest. If you get a $400,000 15-year mortgage with a 6.01% rate, you'll pay about $3,378 monthly toward your principal and interest. However, you'll only pay $207,966 in interest over the years. If that 15-year mortgage monthly payment is too high, remember you can always make extra mortgage payments on your 30-year loan to pay off your mortgage faster and ultimately pay less interest. With a fixed-rate mortgage, your rate is locked in from day one. However, you will get a new rate if you refinance your mortgage. An adjustable-rate mortgage keeps your rate the same for a set 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 remainder of your term. Adjustable rates sometimes start lower than fixed rates, but once the initial rate-lock period ends, you risk your interest rate going up. ARM rates have also been starting higher than fixed rates recently, so they're not as good of a deal as usual. Dig deeper: Adjustable-rate vs. fixed-rate mortgage — Which should you choose? Economists don't expect drastic rate drops before the end of 2025. In 2024, mortgage rates trended downward from early August to the Sept. 18 Federal Reserve meeting, when the central bank announced a 50-basis-point slash to the federal funds rate. Since that announcement, mortgage rates have mostly increased or held steady. The Fed decreased its rate again at its November and December meetings (by 25bps each time). The trajectory of future mortgage rates will largely depend on the Federal Reserve's decision on whether or not to cut the federal funds rate at its 2025 meetings. The Fed decided not to cut the fed funds rate at its Jan. 29 meeting. According to the CME FedWatch tool, there's currently a 99% chance that the rate remains unchanged at tomorrow's meeting too. This means rates probably won't significantly drop in the next couple of months. Dig deeper: Understanding the Fed's rate decisions — Do we want high or low interest rates? According to Zillow data, today's 30-year fixed rate is 6.57% for home purchases and 6.65 for refinances. These are the national averages, so keep in mind the average in your state or city could be different. Your rate will also vary depending on your personal finances. Mortgage rates will probably gradually fall throughout 2025, but they're unlikely to plummet anytime soon. Mortgage rates should go down in 2025, though probably not as drastically as many expected a few months ago. Any decreases may be relatively small depending on the economy, inflation, and the Fed.
Yahoo
11-03-2025
- Business
- Yahoo
Mortgage and refinance rates today, March 11, 2025: Rates waver ahead of inflation data
Some mortgage rates are up today, while others are down. For example, according to Zillow, the 30-year fixed interest rate has increased by three basis points to 6.34%. Meanwhile, the 15-year fixed rate has declined by one basis point to 5.62%. Rates are likely wavering as the markets await upcoming inflation data. The Bureau of Labor Statistics will release February's Consumer Price Index (CPI) tomorrow and the Producer Price Index (PPI) on Thursday. These are both key measures of inflation. Inflation data will give home buyers insight into how the economy is doing, whether the Federal Reserve could cut the federal funds rate soon, and if mortgage rates will increase or decrease in the near future. Dig deeper: What determines mortgage rates? Here are the current mortgage rates, according to our latest Zillow data: 30-year fixed: 6.34% 20-year fixed: 6.09% 15-year fixed: 5.62% 5/1 ARM: 6.32% 7/1 ARM: 6.28% 30-year VA: 5.78% 15-year VA: 5.23% 5/1 VA: 5.82% Remember that these are the national averages and rounded to the nearest hundredth. Read more: How to get the lowest mortgage rates possible Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. These are the current mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.34% 20-year fixed: 5.97% 15-year fixed: 5.67% 5/1 ARM: 6.53% 7/1 ARM: 6.50% 30-year VA: 5.77% 15-year VA: 5.36% 5/1 VA: 5.91% 30-year FHA: 6.01% 15-year FHA: 5.37% Again, the numbers provided are national averages rounded to the nearest hundredth. Refinance rates are usually higher than purchase rates. Limited-time offer: Earn Southwest's Companion Pass as a credit card welcome bonus A mortgage calculator can help you see how various mortgage term lengths and interest rates will affect your monthly payments. Use the free Yahoo Finance mortgage calculator to play around with different outcomes. Our calculator also considers factors like property taxes and homeowners insurance when calculating your estimated monthly mortgage payment. This gives you a better idea of your total monthly payment than if you just looked at mortgage principal and interest. As a rule of thumb, 15-year mortgage rates are lower than 30-year mortgage rates. When comparing 15- versus 30-year mortgage rates, know that the shorter term will save you money on interest in the long run. However, your monthly payments will be higher because you're paying off the same loan amount in half the time. For example, with a $400,000 mortgage with a 30-year term and a 6.34% rate, you'll make a monthly payment of about $2,486 toward your mortgage principal and interest. As interest accumulates over decades, you'll end up paying $495,079 in interest. If you get a $400,000 15-year mortgage with a 5.62% rate, you'll pay about $3,294 monthly toward your principal and interest. However, you'll only pay $192,895 in interest over the years. If that 15-year mortgage monthly payment is too high, remember you can always make extra mortgage payments on your 30-year loan to pay off your mortgage faster and ultimately pay less interest. With a fixed-rate mortgage, your rate is locked in from day one. However, you will get a new rate if you refinance your mortgage. An adjustable-rate mortgage keeps your rate the same for a set 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 remainder of your term. Adjustable rates sometimes start lower than fixed rates, but once the initial rate-lock period ends, you risk your interest rate going up. ARM rates have also been starting higher than fixed rates recently, so they're not as good of a deal as usual. Dig deeper: Adjustable-rate vs. fixed-rate mortgage — Which should you choose? Economists also don't expect drastic rate drops before the end of 2025. In 2024, mortgage rates trended downward from early August to the Sept. 18 Federal Reserve meeting, when the central bank announced a 50-basis-point slash to the federal funds rate. Since that announcement, mortgage rates have mostly increased or held steady. The Fed decreased its rate again at its November and December meetings (by 25bps each time). The trajectory of future mortgage rates will largely depend on the Federal Reserve's decision on whether or not to cut the federal funds rate at its 2025 meetings. The Fed decided not to cut the fed funds rate at its Jan. 29 meeting. According to the CME FedWatch tool, there's currently a 95% chance that the rate remains unchanged at the March meeting too. This means rates probably won't significantly drop in the next couple of months. Dig deeper: Understanding the Fed's rate decisions — Do we want high or low interest rates? According to Zillow data, today's 30-year fixed rate is 6.34% for both home purchases and refinances. These are the national averages, so keep in mind the average in your state or city could be different. Your rate will also vary depending on your personal finances. Mortgage rates will probably gradually fall throughout 2025, but they're unlikely to plummet anytime soon. Mortgage rates should go down in 2025, though probably not as drastically as many expected a few months ago. Any decreases may be relatively small depending on the economy, inflation, and the Fed.
Yahoo
04-03-2025
- Business
- Yahoo
Mortgage and refinance rates today, March 4, 2025: Rates hold steady
Some mortgage rates have decreased today while others have increased, but either way, the shifts are pretty minor. According to Zillow, the average 30-year fixed interest rate is down one basis point to 6.26%, and the 15-year fixed rate is up one basis point to 5.58%. Interest rates have fallen for the last two weeks, and now that rates are holding steady, it could be a good time to start applying for preapproval with mortgage lenders. Dig deeper: 2025 housing market — Is it a good time to buy a house? Here are the current mortgage rates, according to our latest Zillow data: 30-year fixed: 6.26% 20-year fixed: 5.94% 15-year fixed: 5.58% 5/1 ARM: 6.15% 7/1 ARM: 6.21% 30-year VA: 5.72% 15-year VA: 5.24% 5/1 VA: 5.89% Remember that these are the national averages and rounded to the nearest hundredth. Read more: How to get the lowest mortgage rates possible Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. These are the current mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.30% 20-year fixed: 5.92% 15-year fixed: 5.59% 5/1 ARM: 6.24% 7/1 ARM: 6.55% 30-year VA: 5.73% 15-year VA: 5.43% 5/1 VA: 5.91% 30-year FHA: 5.96% 15-year FHA: 5.24% Again, the numbers provided are national averages rounded to the nearest hundredth. Refinance rates are usually higher than purchase rates. Limited-time offer: Earn Southwest's Companion Pass as a credit card welcome bonus A mortgage calculator can help you see how various mortgage term lengths and interest rates will affect your monthly payments. Use the free Yahoo Finance mortgage calculator to play around with different outcomes. Our calculator also considers factors like property taxes and homeowners insurance when calculating your estimated monthly mortgage payment. This gives you a better idea of your total monthly payment than if you just looked at mortgage principal and interest. As a rule of thumb, 15-year mortgage rates are lower than 30-year mortgage rates. When comparing 15- versus 30-year mortgage rates, know that the shorter term will save you money on interest in the long run. However, your monthly payments will be higher because you're paying off the same loan amount in half the time. For example, with a $400,000 mortgage with a 30-year term and a 6.26% rate, you'll make a monthly payment of about $2,465 toward your mortgage principal and interest. As interest accumulates over decades, you'll end up paying $487,570 in interest. If you get a $400,000 15-year mortgage with a 5.58% rate, you'll pay about $3,285 monthly toward your principal and interest. However, you'll only pay $191,361 in interest over the years. If that 15-year mortgage monthly payment is too high, remember you can always make extra mortgage payments on your 30-year loan to pay off your mortgage faster and ultimately pay less interest. With a fixed-rate mortgage, your rate is locked in from day one. However, you will get a new rate if you refinance your mortgage. An adjustable-rate mortgage keeps your rate the same for a set 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 remainder of your term. Adjustable rates sometimes start lower than fixed rates, but once the initial rate-lock period ends, you risk your interest rate going up. ARM rates have also been starting higher than fixed rates recently, so they're not as good of a deal as usual. Dig deeper: Adjustable-rate vs. fixed-rate mortgage — Which should you choose? Mortgage rates have been decreasing for about two weeks, but they're fairly stagnant today. Economists also don't expect drastic drops before the end of 2025. In 2024, mortgage rates trended downward from early August to the Sept. 18 Federal Reserve meeting, when the central bank announced a 50-basis-point slash to the federal funds rate. Since that announcement, mortgage rates have mostly increased or held steady. The Fed decreased its rate again at its November and December meetings (by 25bps each time). The trajectory of future mortgage rates will largely depend on the Federal Reserve's decision on whether or not to cut the federal funds rate at its 2025 meetings. The Fed decided not to cut the fed funds rate at its Jan. 29 meeting. According to the CME FedWatch tool, there's currently a 91% chance that the rate remains unchanged at the March meeting too. This means rates probably won't significantly drop in the next couple of months. Dig deeper: Understanding the Fed's rate decisions — Do we want high or low interest rates? According to Zillow data, today's 30-year fixed rate for purchases is 6.26%, and the 30-year refinance rate is 6.30%. These are the national averages, so keep in mind the average in your state or city could be different. Your rate will also vary depending on your personal finances. Mortgage rates will probably gradually drop throughout 2025, but they're unlikely to plummet anytime soon. Mortgage rates should go down in 2025, though probably not as drastically as many expected a few months ago. Any decreases may be relatively small depending on the economy, inflation, and the Fed.
Yahoo
28-02-2025
- Business
- Yahoo
Southwest Rapid Rewards Priority Card review: Get up to 3x on purchases, upgraded boarding, and travel credits
Frequent Southwest fliers can save on future trips by choosing the right airline credit card. One such option is the Southwest Rapid Rewards® Priority Credit Card, which offers airline-specific perks, an impressive welcome offer, and an opportunity to earn elite status. If you're shopping for a new credit card, here's what to know about the Southwest Rapid Rewards Priority Card, its benefits, and who it's best for. The Southwest Rapid Rewards Priority Credit Card is an excellent mid-tier travel rewards card with plenty of perks. In addition to the benefits above, you can get 25% back on Southwest inflight purchases and reimbursement for up to four upgraded boardings on Southwest flights each year. And if you're interested in earning elite status, this card gives you 1,500 TQPs for every $5,000 spent in a cardmember year. You get Southwest A-list status when you take 20 qualifying flights in a given year or earn 35,000 TQPs. This status gives you extra perks like priority boarding, earning bonuses, and more. Meeting the minimum spend for the welcome bonus is the quickest way to rack up rewards with the Southwest Priority Card. For a limited time, you can earn 30,000 points and a Companion Pass after spending $4,000 in the first three months of card membership. Beyond that, the card offers up to 3X points on your purchases. Southwest purchases will net you 3X points; you can earn 2X points on local transit, commuting, internet, cable, phone, and select streaming services; 2X points with Rapid Rewards car rental and hotel partners; and 1X points on everything else. As a cardholder, you'll also get 7,500 bonus points each cardmember anniversary. Southwest offers little flexibility for reward redemptions, but this shouldn't be an issue for frequent Southwest fliers. You can use your points for Southwest flights, though it may also offer other redemption opportunities periodically. Southwest often has flash sales, and you could score a low-cost award flight if you have some flexibility with travel dates. Since you can typically only use your rewards for Southwest flights, this card doesn't make sense unless you're a loyal Southwest customer. It also has a $149 annual fee, which is higher than its lower-tier counterparts: the Southwest Rapid Rewards Plus Credit Card and Southwest Rapid Rewards Premier Credit Card. Given the lack of flexibility with reward redemptions and the higher annual fee, the Rapid Rewards Priority Credit Card could be ideal for frequent Southwest fliers. If this sounds like you, this card's generous welcome offer and rewards rates could help lower your flight costs significantly. Opportunity to earn Southwest Companion Pass Can earn 1,500 TQPs for each $5,000 spent in a cardmember year Annual $75 Southwest travel credit Has annual fee No introductory APR Good or excellent credit required The Southwest Rapid Rewards Priority Card is part of the Visa card network, which means it's widely accepted globally. The Visa payment network is available in 160+ countries around the world. While you can use your card widely in your travels, keep the rewards categories in mind as you spend and consider packing a backup card. A card that offers flat-rate rewards on all your purchases or one with more general travel categories is likely a good option. Chase issues the Southwest Rapid Rewards Priority Credit Card, and you can pay your bill in a few different ways: Online via your Chase account By mail:Cardmember ServicesP.O. Box 6294Carol Stream, IL 60197-6294 By phone: 1-800-436-7958 If you have questions about your card or need help with your account, the Chase customer service team is available through the following channels: Phone: 1-800-792-0001 Southwest Priority Credit Card login page Secured email form The Southwest Rapid Rewards Priority Credit Card offers big benefits for Southwest loyalists, but it's not the right card for everyone's wallet. Here are three alternatives to consider if you're exploring other options. If you're a frequent Southwest flyer but prefer a lower annual fee, the Southwest Rapid Rewards Plus Card could be a great fit. Offering an annual fee of just $69, a generous welcome offer, and up to 2X points on your purchases, this card has similar perks to its higher-tier counterpart with a lower annual Chase Sapphire Preferred is very popular — and for good reason. This card offers a welcome bonus valued at up to $750 when redeemed in the Chase travel portal. While it does have a modest annual fee, cardmembers get generous rewards, travel insurance, and hotel you'd prefer a card with no annual fee, the Chase Freedom Unlimited is worth a look. While it's marketed as a cash-back credit card, you actually earn Chase Ultimate Rewards points from your spending, just as you would with the Chase Sapphire Preferred card. The Freedom Unlimited also offers a 0% introductory APR for 15 months on purchases and balance article was edited by Alicia Hahn. Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. All opinions belong solely to Yahoo Finance and are not those of any other entity. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bank's website for the most current information. This site doesn't include all currently available offers. Credit score alone does not guarantee or imply approval for any financial product.
Yahoo
25-02-2025
- Business
- Yahoo
Mortgage and refinance rates today, February 25, 2025: The 30-year rate is finally under 6.5%
Mortgage rates are down across the board today. According to Zillow, the average 30-year fixed rate has dropped by six basis points to 6.44% — meaning it has dropped below 6.50% for the first time since mid-December. The end of February could be a good time of year to buy a house. Not only are interest rates down, but you'd be getting ahead of peak home-buying season that usually picks up in March and April. By beating the rush, you might not have to deal with as much competition from other home buyers. As a result, you could get a home you like with fewer chances of a bidding war. Dig deeper: 2025 housing market — Is it a good time to buy a house? Here are the current mortgage rates, according to our latest Zillow data: 30-year fixed: 6.44% 20-year fixed: 6.12% 15-year fixed: 5.77% 5/1 ARM: 6.49% 7/1 ARM: 6.37% 30-year VA: 5.91% 15-year VA: 5.42% 5/1 VA: 6.04% Remember that these are the national averages and rounded to the nearest hundredth. Read more: How to get the lowest mortgage rates possible Have questions about buying, owning, or selling a house? Submit your question to Yahoo's panel of Realtors using this Google form. These are the current mortgage refinance rates, according to the latest Zillow data: 30-year fixed: 6.46% 20-year fixed: 6.11% 15-year fixed: 5.77% 5/1 ARM: 6.48% 7/1 ARM: 6.40% 30-year VA: 5.90% 15-year VA: 5.58% 5/1 VA: 6.01% 30-year FHA: 6.06% 15-year FHA: 5.53% Again, the numbers provided are national averages rounded to the nearest hundredth. Refinance rates are usually higher than purchase rates. Limited-time offer: Earn Southwest's Companion Pass as a credit card welcome bonus A mortgage calculator can help you see how various mortgage term lengths and interest rates will affect your monthly payments. Use the free Yahoo Finance mortgage calculator to play around with different outcomes. Our calculator also considers factors like property taxes and homeowners insurance when calculating your estimated monthly mortgage payment. This gives you a better idea of your total monthly payment than if you just looked at mortgage principal and interest. As a rule of thumb, 15-year mortgage rates are lower than 30-year mortgage rates. When comparing 15- versus 30-year mortgage rates, know that the shorter term will save you money on interest in the long run. However, your monthly payments will be higher because you're paying off the same loan amount in half the time. For example, with a $400,000 mortgage with a 30-year term and a 6.44% rate, you'll make a monthly payment of about $2,513 toward your mortgage principal and interest. As interest accumulates over decades, you'll end up paying $504,503 in interest. If you get a $400,000 15-year mortgage with a 5.77% rate, you'll pay about $3,326 monthly toward your principal and interest. However, you'll only pay $198,667 in interest over the years. If that 15-year mortgage monthly payment is too high, remember you can always make extra mortgage payments on your 30-year loan to pay off your mortgage faster and ultimately pay less interest. With a fixed-rate mortgage, your rate is locked in from day one. However, you will get a new rate if you refinance your mortgage. An adjustable-rate mortgage keeps your rate the same for a set 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 remainder of your term. Adjustable rates sometimes start lower than fixed rates, but once the initial rate-lock period ends, you risk your interest rate going up. ARM rates have also been starting higher than fixed rates recently, so they're not as good of a deal as usual. Dig deeper: Adjustable-rate vs. fixed-rate mortgage — Which should you choose? Mortgage rates have been ticking down for about a week, but there haven't been significant drops for a while. In 2024, mortgage rates trended downward from early August to the Sept. 18 Federal Reserve meeting, when the central bank announced a 50-basis-point slash to the federal funds rate. Since that announcement, mortgage rates have mostly increased or held steady. The Fed decreased its rate again at its November and December meetings (by 25bps each time). The trajectory of future mortgage rates will largely depend on the Federal Reserve's decision on whether or not to cut the federal funds rate at its 2025 meetings. The Fed decided not to cut the fed funds rate at its Jan. 29 meeting. According to the CME FedWatch tool, there's currently a 95.5% chance that the rate remains unchanged at the March meeting too. This means rates probably won't significantly drop in the next couple of months. Dig deeper: Understanding the Fed's rate decisions — Do we want high or low interest rates? According to Zillow data, today's 30-year fixed rate for purchases is 6.44%, and the 30-year refinance rate is 6.46%. These are the national averages, so keep in mind the average in your state or city could be different. Your rate will also vary depending on your personal finances. Mortgage rates will probably gradually drop throughout 2025, but they're unlikely to plummet anytime soon. Mortgage rates should go down in 2025, though probably not as drastically as previously expected. Any decreases may be relatively small depending on the economy, inflation, and the Fed.
