{"id":297,"date":"2025-07-21T10:02:09","date_gmt":"2025-07-21T10:02:09","guid":{"rendered":"https:\/\/wernikovlaptu.com\/?p=297"},"modified":"2025-07-21T13:05:55","modified_gmt":"2025-07-21T13:05:55","slug":"todays-mortgage-refinance-rates-july-21-2025-rates-hold-steady","status":"publish","type":"post","link":"https:\/\/wernikovlaptu.com\/index.php\/2025\/07\/21\/todays-mortgage-refinance-rates-july-21-2025-rates-hold-steady\/","title":{"rendered":"Today\u2019s Mortgage Refinance Rates: July 21, 2025 \u2013 Rates Hold Steady"},"content":{"rendered":"

30-year fixed refinance mortgage rates remained unchanged at 6.78%<\/strong> today, according to the Mortgage Research Center. Rates averaged 5.7%<\/strong> for a 15-year financed mortgage and 6.64%<\/strong> for a 20-year financed mortgage.<\/p>\n

Related: <\/strong>Compare Current Refinance Rates<\/a><\/span><\/p>\n

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30-Year Refinance Rates Climb 0.25%<\/h2>\n

Currently, the average rate for a 30-year, fixed-rate mortgage refinance is 6.78%, up 0.25% from a week ago. Borrowers with a 30-year, fixed-rate mortgage of $100,000 will pay $651 per month for principal and interest at the current interest rate, according to the Forbes Advisor mortgage calculator<\/a><\/span>, not including taxes and fees. Over the life of the loan, the borrower will pay total interest costs of about $134,885.<\/p>\n

Another way of looking at loan costs is the annual percentage rate, or APR<\/a><\/span>. For a 30-year, fixed-rate mortgage, the APR is 6.81%, higher than last week’s 6.79%. The APR is essentially the all-in cost of the home loan.<\/p>\n

20-Year Refinance Rates Climb 1.61%<\/h2>\n

The average interest rate on the 20-year fixed refinance mortgage is 6.64%. The same time last week, the 20-year fixed-rate mortgage was at 6.54%.<\/p>\n

The APR on a 20-year fixed is 6.68%, compared to 6.58% last week.<\/p>\n

A 20-year fixed-rate mortgage refinance of $100,000 with today’s interest rate would cost $754 per month in principal and interest. Taxes and fees are not included. Over the life of the loan, you would pay around $81,504 in total interest.<\/p>\n

15-Year Mortgage Refinance Rates Climb 0.64%<\/h2>\n

For a 15-year fixed refinance mortgage, the average interest rate is currently 5.7%. A week ago, the 15-year fixed-rate mortgage stood at 5.66%.<\/p>\n

The APR, or annual percentage rate, on a 15-year fixed mortgage is 5.75%. Last week, it was 5.71%.<\/p>\n

Based on the current interest rate, a 15-year, fixed-rate mortgage refinance of $100,000 would cost $828 per month in principal and interest\u2014not including taxes and fees. That would equal about $49,455 in total interest over the life of the loan.<\/p>\n

30-Year Jumbo Refinance Rates Climb 0.13%<\/h2>\n

The average interest rate on the 30-year fixed-rate jumbo mortgage refinance (a loan above the federal conforming loan limit of $806,500 in most places) jumped up week-over-week to 7.04%. Last week, the rate was about the same.<\/p>\n

Borrowers with a 30-year fixed-rate jumbo mortgage refinance with today’s interest rate will pay $668 per month in principal and interest per $100,000 borrowed.<\/p>\n

15-Year Jumbo Refi Rates Drop 0.66%<\/h2>\n

A 15-year, fixed-rate jumbo mortgage refinance is 6.34% on average, down 0.66% from last week.<\/p>\n

At today’s interest rate, a borrower with a 15-year, fixed-rate jumbo refinance would pay $862 per month in principal and interest per $100,000 borrowed. Over the life of the loan, that borrower would pay around $55,467 in total interest.<\/p>\n

Are Refinance Rates and Mortgage Rates the Same?<\/h2>\n

Mortgage lenders charge different interest rates for purchase and refinance loans. Current refinance rates are typically 0.01% to 0.15% higher for a 30-year fixed rate versus a purchase loan.<\/p>\n

You can reduce your interest rate by paying your closing costs up front instead of rolling them into the loan with a no-closing-cost refinance loan<\/a><\/span>. Buying discount points and avoiding mortgage insurance can also help.<\/p>\n

When considering a mortgage refinance, compare your current interest rate, mortgage balance and loan term with the new interest rate and term. This comparison helps you estimate your new monthly payment and savings, making it easier to determine if refinancing is the right choice.<\/p>\n

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Know When To Refinance Your Home<\/h2>\n

Refinancing your mortgage<\/a><\/span> can be a wise move for many reasons, most notably lowering your interest rate or your monthly payments. It can also help you pay down your mortgage sooner, access your home’s equity or get rid of private mortgage insurance<\/a><\/span> (PMI).<\/p>\n

But there are closing costs associated with refinancing, so it probably makes more sense to refinance if you know you’ll be keeping your home for some time. You can determine the “break-even point” for a potential refinance, or how long it will take for savings from a new mortgage to surpass any closing costs. Find out what those costs will be and divide them by the monthly savings you’ll realize with the new mortgage.<\/p>\n

The Forbes Advisor mortgage refinance calculator<\/a><\/span> can help you run the numbers to see if it’s a good time for you to refinance.<\/p>\n

How To Get Today’s Best Refinance Rates<\/h2>\n

Just like when you took out your original mortgage, it pays to have a strategy for finding the lowest rate when you want to refinance. Here\u2019s what you should be doing to get a good mortgage rate:<\/p>\n