Mortgage Refinance Rates: 30 Year Refinance Rates now at 4.88%

Mortgage refinance rates were over 5.00 percent last week at 5.07 percent. 30 year refinance rates are now under 5.00 percent at 4.88 percent, continuing the downtrend since the beginning of the week. 15 year mortgage refinance rates are also down this week. The average rate on a 15 year refinance loan is averaging 4.30%, down from last week’s average refinance rate of 4.39%.