Mortgage Rates: Refinancing Picks Up As Mortgage Rates Remain Low

Mortgage rates have made several record lows the past month and are hovering just above an all-time low. As a result of low mortgage rates homeowners are refinancing their mortgage to a lower rate often choosing a 15 year loan instead of a 30 year loan. Current mortgage rates on 30 year home loans are averaging 4.23%, up from yesterday's average 30 year mortgage rate of 4.18%. Mortgage rates on 15 year mortgages are averaging 3.38%, up slightly from yesterday’s average 15 year mortgage rate of 3.37%.