Many Americans are house-rich, thanks to a runup in home prices. But high borrowing costs make it harder to tap your home for cash.

The Federal Reserve just made its first interest rate cut, which can influence mortgage rates. But it still may be too soon to refinance your mortgage.

Sales of previously owned US homes fell in August, according to industry data released Thursday, but lower mortgage rates and growing supply were likely to boost the industry. Compared with a year ago, NAR data showed that existing home sales were 4.2 percent down in August.

Sales of previously owned US homes fell in August, according to industry data released Thursday, but lower mortgage rates and growing supply were likely to boost the industry. Compared with a year ago, NAR data showed that existing home sales were 4.2 percent down in August.

Existing US homes sales fell to a 10-month low in August despite a fall in mortgage rates during the month, according to data published on Thursday, although mortgage applications pointed towards a pick up this month and October.