Refinance Rates Head Higher: Current 30 Year Refinance Mortgage Rates at 4.95%

Refinance rates headed higher this week after declining for the past couple of weeks. Mortgage rates and refinance mortgage rates took a big drop when the financial problems in Greece and Europe started a couple of weeks ago. There was a classic flight to safety that drove Treasury yields lower. Since mortgage rates are tied to Treasury yields, lower Treasury yields mean lower mortgage rates. Interest rates started creeping up again when the rescue package the European Union and the IMF put together finally calmed the markets.