<ul data-eligibleForWebStory="true">Today's mortgage refinance rates saw an increase, with a 30-year fixed refinance rate at 6.88%.Average refinance rates include 5.81% for a 15-year and 6.69% for a 20-year financed mortgage.A 30-year fixed-rate mortgage refinance is at 6.88%, with a borrower paying $658 per month for principal and interest.The APR for a 30-year mortgage is 6.91%, encompassing the total cost of the loan.For a 20-year fixed refinance, the average interest rate is 6.69%, with an APR of 6.73%.A 15-year fixed mortgage refinance averages about 5.81% with an APR of 5.85%.Both jumbo mortgage refinance rates for 30-year and 15-year fixed decreased, with borrowers paying $676 and $867 per month, respectively.Considering a mortgage refinance requires comparing rates, loan terms, and associated costs for potential savings.Factors like reducing monthly payments, paying off the loan faster, or tapping into home equity drive homeowners to refinance.Evaluating the break-even point by comparing savings to closing costs is essential before deciding on a refinance.