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Mortgage Rates Reach 6-Year High, Impacting Refinance Costs
29 Oct, 2025
Summary
- 30-year fixed mortgage refinance rate at 6.32%
- 20-year fixed refinance rate rises to 6.04%
- 15-year fixed refinance rate averages 5.29%
As of October 29th, 2025, mortgage refinance rates have reached a 6-year high, impacting homeowners looking to lower their monthly payments or access their home's equity. The current 30-year, fixed-rate mortgage refinance average stands at 6.32%, up from 6.28% the previous week. The annual percentage rate (APR) on a 30-year, fixed-rate mortgage has also increased to 6.34%.
For a 20-year fixed refinance mortgage, the average interest rate is now 6.04%, compared to 5.93% the week prior. The APR on a 20-year fixed loan has risen to 6.07%. Meanwhile, the 15-year fixed mortgage refinance is averaging 5.29%, a slight decrease from 5.30% the previous week.
Experts predict that mortgage rates are likely to remain steady through the end of 2025, barring any significant changes in economic conditions. Homeowners looking to refinance should consider acting soon to lock in the lowest possible rates, as the current high-interest environment is expected to persist.
