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Current refi mortgage rates report for May 8, 2025


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  See Thursday's report on average refi rates on different types of home loans.

On May 8, 2025, mortgage refinance rates have seen a slight increase, with the average 30-year fixed-rate mortgage at 7.00%, up from 6.99% the previous week, and the 15-year fixed-rate at 6.25%, up from 6.24%. Despite these rises, experts suggest that now could still be a good time to refinance due to the potential for future rate increases. The article also provides a detailed comparison of rates from various lenders, including Bank of America, Chase, and Wells Fargo, and offers insights into how different loan terms and credit scores can affect the rates offered to borrowers. Additionally, it discusses the benefits of refinancing, such as lowering monthly payments or changing the loan term, and advises homeowners to consider their long-term financial goals before making a decision.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-refi-mortgage-rates-05-08-2025/ ]

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