The rate on a 30-year fixed refinance rose to 6.22% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.32%. On a 20-year mortgage refinance, the average rate is 6.

Current mortgage rates are unchanged and lower than they were seven days ago. Rates are lower than they were in early 2025, when the average 30-year fixed-rate mortgage reached above 7%. But rates are still relatively high as fears around stubborn inflation have kept the Federal Reserve from lowering its benchmark rate until recently.

This type of mortgage is ideal for many retirees because it provides flexibility and can even help them defer taking Social Security.

Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.28%. For 20-year mortgage refinances, the average rate is 5.99%. Related: Compare Current Refinance Rates 30-Year

Combining a repayment and interest-only mortgags could become more popular as part of a push towards more flexible lending

The president's latest affordability push sent 15- and 30-year mortgage rates tumbling. But experts say the long-term impact may be limited.

ARMs are at their highest levels since 2008 — yet while post-crisis reforms made them less predatory, they aren’t without risk. Here's when an ARM makes sense, when it won't and how to avoid repeating history’s biggest mistake.