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Refinance rates for 30-year loans subtracted 3 basis points Thursday for a new average of 7.19%. That's compared to 7.32% last week, which was the most expensive level registered since July 2024.
Given that 30-year refi rates fell as low as 6.71% in March, however, today's rates are still elevated. The current average is also about 1.2 percentage points above last September's two-year low of 6.01%.
Rate movement was mixed for other refi loan types Thursday. The 20-year and 15-year refinance averages each dropped 4 basis points, while the jumbo 30-year average fell a bold 10 points.