Overview

• Interest in mortgage refinancing surged 59% from last year, reaching a two-year high.
• Current 30-year mortgage rates dipped below 6% recently, the lowest since February 2023.
• Mortgage rates have risen again, with the 30-year fixed rate now averaging 6.40%.
• Experts advise homeowners to carefully consider costs and potential savings before refinancing.
• Economic factors, including Federal Reserve policies, continue to influence rate volatility.