A cash-out refi lets you tap your home equity in cash. See if it’s right for you.

Part of determining if a mortgage refinance is practical is weighing the balance between its benefits and costs.

This week the Freddie Mac 30-year fixed interest rate averaged 6.35%. Sam Khater, Freddie Mac’s chief economist, noted the 15 basis point-drop from last week was the largest weekly drop in a year.