Interest can be charged when you borrow or earned when you save. When you charge something on a credit card or take out a loan from a financial institution (student loan, auto loan, mortgage, etc.), you’re charged interest for borrowing that money.

Learn what an interest-only mortgage is, how it functions, its advantages, and potential risks. Discover if this mortgage option suits your financial goals.

Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.23%, and for 20-year mortgages, the average is 5.92%. Related: Compare Current Refinance Rates 30-Year Refinance

The Federal Reserve is expected to cut interest rates by at least a quarter percent this week. What will that mean for gold and silver?

Matt Richardson is the senior managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance. For the second time in three months, the Federal Reserve ...

The Federal Reserve took the widely expected step Wednesday of announcing its first interest rate cut in years, a move that will have a major impact on the finances of Americans across the board, making borrowing cheaper, though the golden days of high ...

The Fed cut rates Wednesday, resisting Trump’s push for deeper cuts, but looming legal and political battles — including a Supreme Court case — could test its independence.

For some homeowners, refinancing could be the right move now, but waiting it out could also come with a big payoff.