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Current refi mortgage rates report for May 16, 2025
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Current refi mortgage rates report for May 16, 2025

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See Friday's report on average refi rates on different types of home loans.
On May 16, 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 guidance on how to choose the best refinancing option based on individual financial situations. Additionally, it discusses the impact of economic factors such as inflation and Federal Reserve policies on mortgage rates, advising homeowners to consider locking in rates before they potentially rise further.

Read the Full Fortune Article at:
[ https://fortune.com/article/current-refi-mortgage-rates-05-16-2025/ ]