Mortgage rates are falling. Is this the time to think about refinancing?

Most Americans have mortgage rates below 6%, but there are still millions who stand to gain from refinancing, as reported by Andrea Riquier. According to data from Chase Home Lending, around 4.7 million homeowners could benefit if rates fall below 6%. With the popular 30-year fixed mortgage rate recently near a two-year low of about 6.08%, many homeowners are likely contemplating this option.

Hurricane Helene highlights flood insurance issues

On Friday afternoon, Kayla Ward was enjoying her coffee on the porch when she observed the nearby Nolichucky River rising rapidly.

Having spent nearly a year in her home located in the Appalachian Mountains, Ward never considered the possibility of flooding, reports Bailey Schulz. However, she and her husband had to urgently evacuate when Helene hit Jonesborough, Tennessee. They managed to escape with their pets and the clothes on their backs, but their home suffered substantial damage.

Like many others impacted by last week’s storm, Ward did not have flood insurance.

About The Daily Money

Every weekday, The Daily Money provides you with the latest consumer and financial news from YSL News, simplifying complex issues, summarizing essential information, and clarifying how changes in Fed rates or bankruptcies affect you.