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Today’s Mortgage Refinance Rates: March 13, 2025 – Rates Increase
- Today's mortgage refinance rates as of March 13, 2025 have increased, with the rate on a 30-year fixed refinance reaching 6.76%.
- The average rates for 15-year, 20-year, and 30-year fixed-rate refinance mortgages are 5.69%, 6.54%, and 6.76% respectively.
- For a 30-year fixed-rate mortgage refinance, the APR is 6.79%, costing around $649 per month in principal and interest.
- The 20-year fixed refinance mortgage has an average rate of 6.54% and an APR of 6.58%.
- A 15-year fixed refinance mortgage has an average interest rate of 5.69% and an APR of 5.74%.
- Jumbo mortgage refinance rates are higher, with 30-year fixed jumbo rates at 7.11% and 15-year fixed jumbo rates at 6.2% on average.
- Consider the benefits of refinancing, such as lowering interest rates, reducing monthly payments, or eliminating PMI.
- Calculate the break-even point for a refinance to see when savings from the new mortgage outweigh closing costs.
- Maintaining a strong credit score, managing debt well, and monitoring mortgage rate fluctuations can help secure a lower rate during refinancing.
- It's essential to assess if refinancing aligns with your financial goals and circumstances before proceeding with the application process.
- Check out a mortgage refinance calculator to evaluate if refinancing is a viable option based on your current situation and goals.
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