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Today’s Mortgage Refinance Rates: June 2, 2025 – Rates Hold Steady
- Today's 30-year fixed refinance mortgage rates remain steady at 6.91% with 15-year and 20-year rates at 5.84% and 6.78% respectively.
- The APR on a 30-year fixed refinance is 6.94%, down from last week's 7.02%, resulting in $659 monthly payment for a $100,000 loan.
- For a 20-year fixed refinance mortgage, the APR is 6.81%, compared to 6.91% last week, with $762 monthly payment for a $100,000 loan.
- A 15-year fixed refinance mortgage averages 5.84%, equating to $835 monthly payment for a $100,000 loan.
- Jumbo mortgage refinance rates stand at 7.61% for 30-year and 6.28% for 15-year fixed rates.
- Refinance rates are slightly higher than mortgage rates; conventional, FHA, VA, and jumbo loans carry different rates.
- Considering reasons to refinance: lower interest rates, reduce monthly payments, pay off the loan sooner, access equity, and eliminate PMI.
- Experts predict stable mortgage rates in the first half of 2025, possibly decreasing in the second half if inflation slows and unemployment rises.
- Improving credit score and reducing loan balance are recommended strategies to secure the lowest possible rate when refinancing later.
- Regularly checking fluctuating mortgage rates and using calculators could help in determining the best refinancing options.
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