You may want to refinance your home when you can lower your interest rate, reduce monthly payments or pay off your mortgage sooner. The 52-week high for a 30-year VA refinance loan was 6.78% and the 52-week low was 4.62%. The current average rate on a 30-year VA refinance loan is 6.71% compared to 6.67% the week prior. That’s compared to the 52-week low of 4.04% and the average rate at this time last week of 5.93%. The average interest rate for a 5/1 ARM is currently 5.97%. Over the life of the loan, that borrower would pay around $449,873 in total interest. 15-Year Jumbo Refi RatesĪ 15-year, fixed-rate jumbo mortgage refinance is 6.82%, on average, compared to the average of 6.80% last week and the 52-week low of 4.51%.Īt today’s interest rate of 6.82%, a borrower with a 15-year, fixed-rate jumbo refinance would pay $6,666 per month in principal and interest on a $750,000 loan. The 30-year fixed rate on a jumbo mortgage is higher than the 52-week low of 5.20%.īorrowers with a 30-year fixed-rate jumbo mortgage refinance with today’s interest rate of 7.42% will pay $5,203 per month in principal and interest per $750,000. The average interest rate on the 30-year fixed-rate jumbo mortgage refinance is 7.42%. That would equal about $177,253 in total interest over the life of the loan. Using the current interest rate of 6.73%, a 15-year, fixed-rate mortgage refinance of $300,000 would cost $2,651 per month in principal and interest-not including taxes and fees. That compares to 6.76% at this time last week. The APR, or annual percentage rate, on a 15-year fixed mortgage is 6.76%. 15-Year Fixed Refinance Ratesįor a 15-year fixed refinance mortgage, the average interest rate is currently 6.73% compared to 6.73% at this time last week and the 52-week low of 4.57%. That borrower would pay roughly $267,763 in total interest over the life of the loan. The APR, or annual percentage rate, on a 20-year fixed mortgage is 7.25% compared to 7.18% at this time last week.Īt the current interest rate of 7.22%, a 20-year, fixed-rate mortgage refinance of $300,000 would pay $2,366 per month in principal and interest. That’s compared to the average of 7.15% at this time last week. The 20-year fixed mortgage refinance is currently averaging about 7.22%. 20-Year Fixed-Rate Mortgage Refinance Rates Over the life of the loan, the borrower will pay total interest costs of about $440,417. The APR is the all-in cost of a home loan-the interest rate including any fees or extra costs.Īt the current interest rate of 7.30%, borrowers with a 30-year, fixed-rate mortgage of $300,000 will pay $2,057 per month for principal and interest, according to the Forbes Advisor mortgage calculator. The annual percentage rate (APR) on a 30-year, fixed-rate mortgage is 7.32%, compared to 7.24% last week. The current 30-year, fixed-rate mortgage refinance is averaging 7.30%, compared to 7.22% last week and the 52-week low of 5.26%. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs.30-Year Fixed-Rate Mortgage Refinance Rates These ads are based on your specific account relationships with us. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you log in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. If you prefer that we do not use this information, you may opt out of online behavioral advertising. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Relationship-based ads and online behavioral advertising help us do that. We strive to provide you with information about products and services you might find interesting and useful.
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