<ul><li>Today's mortgage refinance rates have declined, with the rate on a 30-year fixed refinance at 6.94%.</li><li>The average rates for a 15-year and 20-year mortgage refinance are 5.96% and 6.83% respectively.</li><li>The APR for a 30-year fixed mortgage refi is 6.98%, while for a 20-year fixed mortgage, it is 6.87%.</li><li>For a 30-year fixed refinance, a $100,000 loan would cost $662 per month, totaling $138,156 in interest.</li><li>A 20-year fixed refinance of $100,000 would cost $765 per month, with $83,559 in total interest.</li><li>A 15-year fixed refinance at today's rate costs around $841 per month per $100,000 borrowed.</li><li>Jumbo mortgage refinance rates also decreased, with a 30-year fixed jumbo refi at 7.21%.</li><li>Refinancing can lower monthly payments, pay down the mortgage sooner, or remove PMI.</li><li>Consider factors like closing costs and break-even points when deciding to refinance.</li><li>Important considerations for refinancing include credit score improvement and monitoring mortgage rates.</li></ul>

Today’s Mortgage Refinance Rates: February 20, 2025 – Rates Decline

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