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Today’s Mortgage Refinance Rates: June 16, 2025 – Rates Hold Steady
- 30-year fixed refinance mortgage rates held steady at 6.81%, with 15-year rates at 5.75% and 20-year rates at 6.6%.
- APR for a 30-year fixed-rate mortgage is 6.84%, costing $653/month for a $100,000 loan; total interest paid about $135,605.
- For a 20-year fixed refinance, average rate is 6.6%, APR is 6.64%, costing $751/month for a $100,000 loan; total interest around $80,879.
- 15-year fixed refinance mortgage rates stand at 5.75%, with an APR of 5.79%, costing $830/month for a $100,000 loan; total interest about $49,898.
- 30-year fixed-rate jumbo refinance loans at 7.06% and 15-year fixed-rate jumbo refinance at 6.39%, with corresponding monthly payments and total interest costs provided.
- Refinancing rates vary by program and can be higher, especially cash-out refinance rates; government-backed loans like FHA and VA may offer lower rates.
- Consider factors like current interest rate, loan term, and potential savings when deciding on mortgage refinance; use calculators to determine break-even point.
- Refinancing can lower interest rates, monthly payments, pay down mortgage sooner, access equity, or eliminate PMI; closing costs should be factored in.
- Track national average mortgage rates, as they impact refinancing trends; experts anticipate rates in the mid-to-high 6% range for 2025.
- Improving credit score and financial stability can help secure lower refinancing rates; experts predict potential rate decreases by end of the year.
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