Mortgage interest rates have been stubbornly high for several years, with the uptick rising since 2022, according to the Federal Reserve Bank of St. Louis. High rates make it difficult for prospective buyers to afford to purchase a new house, but that’s only half of the equation. For homeowners currently in a mortgage with high interest rates, it can easily add hundreds of dollars to a monthly payment, further stressing a budget.
Here are top possible ways to claw back some savings for Americans stuck with a high interest rate.
