<ul><li>Today, the rate on a 30-year fixed refinance decreased to 6.88%.</li><li>The average rate for a 15-year financed mortgage was 5.76%, and for a 20-year financed mortgage, it was 6.69%.</li><li>For a 30-year fixed-rate mortgage refinance of $100,000, the monthly payment is $658 for principal and interest.</li><li>The total interest costs over the life of the loan would be about $137,385.</li><li>The APR for a 30-year fixed-rate mortgage is 6.91%.</li><li>For a 20-year fixed refinance mortgage, the average interest rate is 6.69%, with an APR of 6.73%.</li><li>A 15-year fixed refinance mortgage has an average interest rate of 5.76% and an APR of 5.81%.</li><li>At today's interest rates, a 15-year fixed-rate mortgage refinance of $100,000 would cost $831 per month.</li><li>It's important to compare current interest rates, mortgage balance, and loan terms when considering refinancing to determine potential savings.</li><li>Experts predict average mortgage rates to remain in the mid-to-high 6% range in the first half of 2025, with a potential decrease by the year-end.</li></ul>

Mortgage Refinance Rates Today: June 5, 2025 – Rates Decrease

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