<ul><li>The 30-year fixed refinance rate decreased to 6.72%, while the 15-year fixed average rate is 5.69%.</li><li>For 20-year mortgage refinances, the average rate stands at 6.53%.</li><li>The APR for a 30-year fixed-rate mortgage is 6.75%, down from 6.98% last week.</li><li>Borrowers with a $100,000 30-year mortgage will pay about $646 monthly for principal and interest.</li><li>The APR on a 20-year fixed mortgage is 6.57%, while the 15-year fixed refinance rate is at 5.69%.</li><li>Refinancing may help lower interest rates, reduce monthly payments, or access home equity for financial needs.</li><li>Jumbo mortgage refinance rates also decreased, with 30-year fixed jumbo at 7.09% and 15-year fixed jumbo at 6.12%.</li><li>Refinancing can be advantageous if closing costs, discount points, and mortgage insurance are managed wisely.</li><li>It's essential to calculate the break-even point to determine if the savings from a lower interest rate exceed closing costs.</li><li>Improving credit score and comparing rates are key factors in securing a competitive mortgage refinance offer.</li></ul>

Here Are Today’s Mortgage Refinance Rates: February 27, 2025 – Rates Decrease

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