Home equity is the difference between your house's current market value and the balance on your mortgage. It's often represented as a percentage: If your home is worth $200,000 and your mortgage is ...

For the vast majority of homeowners, there's currently little financial incentive to refinance their mortgages. So far in 2025, average mortgage rates have remained elevated, consistently hovering ...

CNBC Select outlines how homeowners can increase their home equity by paying down their mortgage and making improvements on the property.

Overall, it's unlikely we'll see another refinancing boom like the one in 2020-21 when mortgage rates were exceptionally low ...