Mortgage refi rates increased slightly on Thursday after three days of declining averages. Last week, 30-year mortgage refinance rates plunged to a 19-month low.

The rate on a 30-year fixed refinance jumped today. The average rate on a 30-year fixed mortgage refinance is 6.84%, according to Curinos, while the average rate on a 15-year mortgage refinance is 5.78%.

Mortgage rates have fallen significantly in 2024, opening the door for recent buyers to refinance. But the interest rate you pay isn't the only consideration when deciding whether to refinance your mortgage.

After plunging last week to a 19-month low, but then rising back up, 30-year refi rates have again begun dropping—three days in a row. Most other refi rates have also dipped.

Mortgage rates have fallen to their lowest level since early 2023. Should you apply to refinance? Keep reading to find out.

“The 30-year fixed rate decreased for the eighth straight week to 6.13%," the MBA's Joel Kan said in a release. “As a result of lower rates, week-over-week gains for both conventional and government refinance applications increased sharply.”

PITTSBURGH — Mortgage rates have dropped to their lowest level since February. The shift is an opportunity for new homebuyers, but it’s also a chance for current homeowners to refinance and save some money. “Mortgage rates have come down pretty significantly,” says Bankrate analyst Jeff Ostrowski, “you’re definitely going to save some money.”

When you need cash and own a home, your equity is valuable. But should you refinance your home or get a reverse mortgage instead? Let’s look at the options.