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Today’s Mortgage Refinance Rates: June 4, 2025 – Rates Fall
- Today's mortgage refinance rates saw a decrease, with a 30-year fixed refinance at 6.91% and 15-year fixed refinance at 5.81%.
- The APR on a 30-year fixed refinance mortgage is 6.94%, resulting in a monthly payment of $659 for a $100,000 loan.
- For a 20-year fixed mortgage refinance, the average rate is 6.76%, costing $761 per month for principal and interest on a $100,000 loan.
- 15-year fixed mortgage refinance stands at 5.81% with an APR of 5.85%, requiring $834 monthly payment for $100,000 loan.
- 30-year fixed-rate jumbo refinance saw a decline to 7.33%, while 15-year fixed-rate jumbo refinance is at 6.33%.
- Refinance rates are typically slightly higher than mortgage rates and vary by program, including conventional, FHA, VA, and jumbo applications.
- Consider factors like closing costs, APR, loan balance, and term when deciding on a mortgage refinance for potential savings and benefits.
- Experts predict stable national average mortgage rates in the middle-to-high 6% range through the first half of 2025.
- Inflation and unemployment trends may impact future mortgage rates, with potential reductions by the Federal Reserve leading to lower rates.
- Waiting to refinance later in the year, improving credit scores, and reducing loan balances can lead to securing lower rates when exploring refinancing options.
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