30-Year Fixed Refinance Dips: Mortgage Refinance Rates for May 14, 2025

Average mortgage refinance rates have been volleying between 6.5% and 7% as fears of both higher inflation and an economic slowdown play tug-of-war with financial markets. Overall, rates are too high for most homeowners to save money from refinancing.

After three interest rate cuts last year, the Federal Reserve has left rates unchanged in 2025 to assess the economic fallout from President Trump's policies on trade, immigration and government spending. While the Fed is expected to resume lowering interest rates this summer, a major refinancing boom is unlikely if average rates stay above 6% — which most economists and housing market experts predict.

However, if you're looking to change the length of your loan or switch to a different type of mortgage, refinancing might still be something to consider. Keep in mind that mortgage refinance rates change daily based on a range of ...