Mortgage refi rates have fallen for a second day, lowering the 30-year average to its cheapest level since mid-October. Most other loan types saw rates hold steady or drop.

The current median interest rate is 6.99% for a 30-year fixed-rate mortgage and 6.13% for a 15-year fixed-rate mortgage

These are today's mortgage and refinance rates. Mortgage rates are down slightly today, but they're still higher than they've been in recent months.

New York, California, and Washington currently have the lowest 30-year mortgage refi rates The states with the cheapest 30-year mortgage refinance rates Tuesday were New York, California, Washington,

Mortgage interest rates plunged in 2020 in response to a cut to the federal funds rate sparked by the pandemic. But they rose exponentially in the years that followed as inflation surged and the Federal Reserve issued a series of interest rate hikes aiming to keep it from rising further.