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Mortgage Refinance Rates Today: April 30, 2025 – Rates Decrease
- Today, the rate on a 30-year fixed refinance dropped to 6.81%, while rates for a 15-year and 20-year financed mortgage averaged 5.75% and 6.58%, respectively.
- The average rate for a 30-year, fixed-rate mortgage refinance is 6.81%, down 2.71% from the previous week, costing $653 per month for principal and interest on a $100,000 loan.
- The total interest cost over the life of a 30-year loan at this rate would be approximately $135,629.
- The APR for a 30-year fixed mortgage is 6.84%, indicating the all-in cost of the loan.
- A 20-year fixed mortgage refinance average rate is 6.58%, with an APR of 6.62%.
- For a 20-year, fixed-rate mortgage refinance of $100,000, the monthly payment would be $750, with total interest costs of around $80,651.
- 15-year fixed mortgage refinance rates are at 5.75% with an APR of 5.8%.
- For a 15-year, fixed-rate mortgage refinance of $100,000, the monthly payment would be $831, with total interest costs of approximately $49,966 over the 15-year term.
- Refinance rates differ from mortgage rates and can be slightly higher, with variations by program such as conventional, FHA, VA, and jumbo loans.
- Factors like credit score, loan term, and program type affect refinance rates, with cash-out refinance rates typically higher due to borrowing from available equity.
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