<ul><li>Today, the rate on a 30-year fixed refinance increased to 6.95% as reported by the Mortgage Research Center.</li><li>The average rate for a 30-year fixed-rate mortgage refinance is currently 6.95%, with borrowers paying $662 per month for a $100,000 loan.</li><li>The total interest cost over the life of a 30-year fixed-rate mortgage refinance would be approximately $138,277.</li><li>The annual percentage rate (APR) for a 30-year fixed-rate mortgage is 6.98%.</li><li>The average rate for a 20-year fixed mortgage refinance is 6.81%.</li><li>The APR for a 20-year fixed mortgage is 6.86%.</li><li>A 20-year fixed-rate mortgage refinance of $100,000 would cost about $764 per month, totaling around $83,402 in interest over the loan term.</li><li>For a 15-year fixed refinance mortgage, the average interest rate remains at 5.95%.</li><li>The APR for a 15-year fixed mortgage is 6%, with monthly payments of $841 for a $100,000 loan, equating to about $51,418 in total interest.</li><li>Current refinance rates are typically slightly higher than purchase loan rates, with options to reduce rates by paying closing costs up front or buying discount points.</li></ul>

Mortgage Refinance Rates Today: February 19, 2025 – Rates Rise

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