If you purchased an ARM over the past few years, you may want to consider refinancing it into a fixed-rate mortgage. With mortgage rates decreasing and the Federal Reserve cutting rates, it may be a good time to refinance and lock in a low fixed-rate.

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%.

Check out our guide on 15-year mortgage refinance rates in 2024. Learn how to get the best rates, understand market trends, and calculate potential savings.

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.

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.