Refinance Rates Decline for a Third Day
Rates on 30-year refinance loans dropped another 2 basis points Wednesday, nudging to average down to 7.03%. That's now the cheapest level for 30-year refi rates since Dec. 18. In September, 30-year refinance rates plunged to a two-year low of 6.01%. But they then surged as high as 7.30%—before recently moving lower.
If you’re thinking about refinancing your mortgage, it’s a good idea to keep an eye on interest rates as they can fluctuate day by day. It’s also important to weigh your refinancing options.
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After ticking up for two days, 30-year refi rates dropped Monday to their cheapest level since mid-December. Rates moved lower for other refinance loan types as well.
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