Mortgage Refinance Rates Fall: Mortgage Refinance Rates on April 29, 2025

Mortgage refinance rates have been moderating in response to rising layoffs and worries about a potential economic downturn. Despite the recent dip in rates, experts don’t expect another refinancing boom like in 2020 and 2021, when mortgage rates dropped to historic lows.

Until mortgage rates move below 6%, which isn’t guaranteed this year, refinancing activity is likely to remain limited. Most homeowners refinance to save money on their monthly payment with a lower interest rate. However, you might be considering refinancing for other reasons, such as modifying your loan term or type.

Mortgage refinance rates change daily depending on multiple economic and political factors. Check out our weekly mortgage rate forecast for expert predictions on where rates are headed.

When mortgage rates start to fall, be ready to take advantage. Experts recommend shopping around and comparing multiple offers to get the lowest rate. Enter your information ...