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Today the rate on a 30-year fixed refinance dropped, providing homeowners an opportunity to refinance and take advantage of the historically low rate.
According to Bankrate.com the average rate on a 30-year fixed mortgage dropped to 3.21% with an APR of 3.35% which was 3.37% same time last week.
The 20-year refinance rate is the same as last week 3.04% but the APR dropped from 3.18% last week to the current 3.17%.
The 15-year fixed mortgage had an average rate of 2.57% last week today it is 2.48% with an APR of 2.71%.
The average rate on a 5/1 ARM is 2.87% this too fell from last week’s rate of 2.90% with an APR of 4.10%.
The 30-year jumbo refinance rate is 3.22% this rate dropped 0.06 basis points since yesterday when the rate was 3.28%
The 15-year jumbo mortgage refinance rate also dropped from yesterday’s 2.53% to 2.47%
Reference Source: Forbes Advisor
