Average refinance rates for major home loan types were updated Thursday, offering borrowers a fresh look at costs as mortgage markets react to inflation data and Federal Reserve signals. The report ...
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Refinancing a mortgage replaces your home loan with a new one. A refinance to a better interest rate can lower your monthly mortgage payments.
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The rate on a 30-year fixed refinance slipped to 6.35% today, according to the Mortgage Research Center. Rates averaged 5.43% for a 15-year financed mortgage and 6.21% for a 20-year financed mortgage.
To qualify for the best mortgage rates, make sure your credit is in good standing before you apply. / Credit: /iStockphoto Of course, if you're planning to buy a new home or considering refinancing ...