<ul><li>30-year fixed refinance mortgage rates held steady at 6.87% today.</li><li>The average rate for a 15-year fixed refinance mortgage is 5.73%.</li><li>For 20-year mortgage refinances, the average rate is 6.65%.</li><li>The APR for a 30-year fixed-rate mortgage is 6.9%.</li><li>The APR for a 20-year fixed refinance mortgage is 6.69%.</li><li>The APR for a 15-year fixed mortgage stands at 5.78%.</li><li>Refinancing rates for jumbo mortgages are slightly higher than standard rates.</li><li>The process for refinancing a mortgage involves similar steps to getting a home purchase loan.</li><li>Having a strong credit score and managing debt can help secure lower refinance rates.</li><li>National average mortgage rates are expected to remain in the mid-to-high 6% range in 2025.</li><li>Forecasting mortgage rates is influenced by economic indicators like inflation and unemployment rates.</li></ul>

Current Mortgage Refinance Rates: May 5, 2025 – Rates Don’t Budge

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