U.S. Average 30-Year Refinance Rates Rise To 6.81% July 2025

As of early July 2025, the national average refinance rate for a 30-year fixed-rate mortgage is approximately 6.8%, reflecting a slight increase over recent weeks but remaining near recent lows after a period of volatility. Mortgage rates remain well above the pandemic-era lows of 2% to 3%, causing many homeowners with rates below 6% to stay put and avoid refinancing. Adjustable-rate mortgages (ARMs) average around 7.56% for 5-year ARMs and can be advantageous for short-term homeowners, real estate investors, or buyers during high-interest periods due to their initially lower rates. Mortgage rates vary significantly by state, with some states like New York, California, and Colorado offering more favorable refinance and purchase rates compared to states like West Virginia and Alaska. Refinancing decisions should consider the costs involved and typically make sense if the new rate is at least one percentage point lower than the existing rate. Digital platforms like QuoteMortgageUSA now offer homeowners access to up-to-date refinance rate reports and personalized loan options without impacting credit scores, helping borrowers navigate the current mortgage market effectively.