A naukri.com initiative
Forbes
2w
300
Image Credit: Forbes
Today’s Refinance Rates: December 6, 2024—Rates Dip
- Today's 30-year fixed mortgage refinance rate is averaging 7.18% and for 15-year fix rates are averaging 6.24%.
- The APR on a 30-year fixed refinance is 7.20% and on a 15-year fixed refinance is 6.27%.
- For 30-years fixed refinance mortgage of $100,000, homebuyers will pay $677 per month in principal and interest at 7.18% interest rate.
- For 20-year fixed refinance mortgage of same amount, buyers will pay $775 for principal and interest per month at 7.00% interest rate.
- The 15-year fixed refinance mortgage has an average interest rate of 6.24%.
- For a 15-year fixed refinance mortgage of $100,000 borrowed, buyers will pay $857 per month in principal and interest.
- The average interest rate on a 30-year, fixed-rate jumbo mortgage refinance and 15-year, fixed-rate jumbo mortgage refinance is 7.06% and 6.89% respectively.
- It is worth noting that refinance rates are different and slightly higher from mortgage rates.
- Refinancing can allow tapping available equity or eliminating private mortgage insurance (PMI).
- However, it is important to keep in mind that the refinancing process carries costs and makes more sense if you plan to stay in your home for some time.
Read Full Article
18 Likes
For uninterrupted reading, download the app