<ul><li>The rate on a 30-year fixed refinance climbed today.</li><li>The current 30-year, fixed-rate mortgage refinance rate is averaging 7.31%.</li><li>For 20-year mortgage refinances, the average rate is 7.18%.</li><li>At the current interest rate of 7.31%, borrowers with a 30-year, fixed-rate mortgage of $100,000 will pay $686 per month for principal and interest.</li><li>The average interest rate on the 20-year fixed refinance mortgage is 7.18%.</li><li>The 15-year fixed mortgage refinance is currently averaging about 6.33%.</li><li>The average interest rate on the 30-year fixed-rate jumbo mortgage refinance is 7.21%.</li><li>When you refinance, your new rate is based on current refinance rates and your loan term.</li><li>Refinancing also may help you access your home’s equity or eliminate private mortgage insurance (PMI).</li><li>It pays to have a strategy for finding the lowest rate when you want to refinance.</li></ul>

Current Refinance Rates: December 18, 2024—Rates Inch Up

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