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Mortgage Refinance Rates Today: June 3, 2025 – Rates Advance Higher
- The rate on a 30-year fixed refinance increased to 6.92% today, with rates averaging 5.84% for a 15-year financed mortgage and 6.79% for a 20-year financed mortgage.
- The average rate on a 30-year fixed-rate mortgage refinance is down 1.06% from last week, with an APR of 6.95%.
- For a 30-year refi of $100,000 at 6.92%, borrowers would pay $660 per month in principal and interest, totaling $138,205 in interest over the loan's life.
- A 20-year fixed refinance mortgage stands at an average interest rate of 6.79% and an APR of 6.83%.
- On a 20-year refi of $100,000 at today's rate, borrowers would pay $763 per month in principal and interest, amounting to about $83,645 in total interest.
- The 15-year fixed mortgage refinance is currently averaging about 5.84%, with an APR of 5.89%.
- For a 15-year refi of $100,000 at the current rate, borrowers would pay $835 per month in principal and interest, totaling around $50,807 in interest over 15 years.
- 30-year fixed-rate jumbo mortgage refinance rates dropped to 7.34%, with borrowers paying $688 per month in principal and interest on a $100,000 loan.
- A 15-year fixed-rate jumbo refinance is at 6.34%, where borrowers would pay $863 per month on a $100,000 loan, totaling approximately $55,506 in interest.
- Refinance rates are typically slightly higher than purchase loan rates, and strategic approaches like paying closing costs up front or avoiding mortgage insurance can help lower rates.
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