Where are today’s mortgage rates?

Mortgage rates currently are:

  • 30-year fixed mortgage rates are averaging 3.05%
  • The average 15-year fixed-rate mortgage currently sits at 2.35%
  • 5/1 ARM rate: 3.14%

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Also, is it worth refinancing for 1 percent?

Is it worth refinancing for 1 percent? Refinancing for a 1 percent lower rate is often worth it. One percent is a significant rate drop, and will generate meaningful monthly savings in most cases. For example, dropping your rate 1 percent — from 3.75% to 2.75% — could save you $250 per month on a $250,000 loan.

Moreover, is it worth refinancing to save $100 a month? Saving $100 per month, it would take you 40 months — more than 3 years — to recoup your closing costs. So a refinance might be worth it if you plan to stay in the home for 4 years or more. But if not, refinancing would likely cost you more than you’d save. … Negotiate with your lender a no closing cost refinance.

Then, what is the lowest mortgage rate ever?

3.31%

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