Experts anticipate that refinance applications will pick up gradually as mortgage rates keep their downward trend. A recent survey by CNET Money found that while only 4% of US adults would consider purchasing a home or refinancing with a 6% mortgage rate, more than four times as many would consider it with a 5% rate.

The rate on a 30-year fixed refinance jumped today. The average rate on a 30-year fixed mortgage refinance is 6.84%, according to Curinos, while the average rate on a 15-year mortgage refinance is 5.78%.

Mortgage refi rates increased slightly on Thursday after three days of declining averages. Last week, 30-year mortgage refinance rates plunged to a 19-month low.

Mortgage rates are starting to fall, but that doesn't mean it's a good time to refinance. Find out why I'd wait a little longer.

After plunging last week to a 19-month low, but then rising back up, 30-year refi rates have again begun dropping—three days in a row. Most other refi rates have also dipped.

Mortgage rates have fallen significantly in 2024, opening the door for recent buyers to refinance. But the interest rate you pay isn't the only consideration when deciding whether to refinance your mortgage.