PeopleImages.com - Yuri A / Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. With mortgage interest rates falling, homeowners are hunting for ways to cut their monthly payments. Refinancing remains hugely popular, but a lesser-used hack could also save you hundreds each month: mortgage rate modifications. The best part? All you have to do is ask. Must Read The average rate on a 30-year fixed mortgage is 6.21% as of December 18, 2025, dow ...