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Here Are Today’s Mortgage Refinance Rates: March 27, 2025 – Rates Dip
- Today's mortgage refinance rates as of March 27, 2025 show a decrease, with a 30-year fixed refinance rate at 6.84%, a 15-year fixed refinance rate at 5.8%, and a 20-year fixed refinance rate at 6.63%.
- The average APR for a 30-year fixed refinance is 6.87%, costing $654 per month for a $100,000 loan with $135,533 in total interest over the loan term.
- For a 20-year fixed refinance, the average APR is 6.67% with monthly payments of $753 for a $100,000 loan, totaling roughly $80,708 in interest.
- On a 15-year fixed refinance, the APR is 5.85%, leading to monthly payments of approximately $833 for every $100,000 borrowed, with $49,908 in total interest.
- Jumbo mortgage refinance rates are slightly higher, with a 30-year fixed-rate jumbo mortgage refinance at 7.21% and a 15-year fixed-rate jumbo mortgage refinance at 6.23%.
- Refinancing offers benefits like reducing interest rates, monthly payments, paying off the mortgage sooner, accessing home equity, and eliminating PMI.
- Factors to consider include closing costs, break-even point calculations, potential savings, and using tools like the Forbes Advisor mortgage refinance calculator.
- Maintaining a strong credit score, monitoring fluctuating mortgage rates, and exploring shorter loan terms are recommended to secure favorable refinancing opportunities.
- Refinancing may not be advantageous if it does not result in better terms or savings that offset closing costs, time investment, and hindrances in the process.
- Having a well-thought-out strategy, staying informed about market trends, and comparing various mortgage options are crucial when considering a refinance.
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