Average 30-year mortgage rates rise to 4%, and other MoneyWatch headlines

When considering mortgage options, understanding the different terms available is crucial. Here are some common mortgage terms to guide your decision-making process: - Fixed-Rate Mortgage: The interest rate stays constant throughout the loan term, typically 15, 20, or 30 years. - Adjustable-Rate Mortgage (ARM): Interest rates vary periodically based on a benchmark index, offering lower initial rates that may increase over time. - Interest-Only Mortgage: Initially, you pay only the interest, resu