Refi rates near 7%
As of March 30, 2026, avg. 30-yr fixed refinance rate was ~6.7%, based on marketplace data.
Many expected late 2024 Fed cuts to lower mortgages, but 30-yr fixed rates stayed near 7% for months.
Rates stayed far above pandemic lows near 2%–3%, leaving many homeowners reluctant to move or refinance.
Refinancing can help: lower rate, cash-out equity, change term, or switch loan type to reduce insurance.
Refi closing costs run ~2%–6% of loan; shopping lenders may uncover incentives or special programs.
I’m seeing refinance rates stay relatively high, even after earlier Federal Reserve cuts. Homeowners are weighing whether refinancing is worth it, balancing potential savings or equity access against qualification hurdles and closing costs.