<ul><li>The average rate on a 30-year fixed mortgage refinance is 7.33%.</li><li>Today, the average rate for the 30-year fixed-rate mortgage refinance dropped to 7.33% from yesterday.</li><li>The APR, or annual percentage rate, on a 20-year fixed mortgage is 7.27%.</li><li>The 15-year fixed mortgage refinance is currently averaging about 6.44%.</li><li>Borrowers with a 30-year fixed-rate jumbo mortgage refinance with today’s interest rate of 7.31% will pay $686 per month in principal and interest per $100,000.</li><li>No, mortgage refinance rates are typically higher than purchase loan rates due to additional risk for the lender.</li><li>When you refinance, your new rate is based on current refinance rates and your loan term.</li><li>Refinancing your mortgage can make sense if you plan to remain in your home for a number of years.</li><li>Refinancing your mortgage can be worth it for reasons that include: lowering interest rates, reducing monthly payments or paying off mortgage sooner.</li><li>It pays to have a strategy for finding the lowest rate when you want to refinance.</li></ul>

Mortgage Refinance Rates Today: January 23, 2025—Rates Decline

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