April 28, 2025, 4:20 am
Recent updates indicate a moderate rise in both conventional mortgage and refinance rates as financial benchmarks tick upward. The latest figures from April 28, 2025, suggest that tightening market conditions may increase borrowing costs, signaling caution for homeowners and prospective refinancers alike.
Homeowners can get access to a large sum of cash at a fixed rate by borrowing against their property's value with a home equity loan.
While any dip in rates is good news for buyers, average 30-year mortgage rates are still closer to 7% than 6%.
The direction of mortgage rates hinges on Trump's tariff agenda, the Fed and the financial markets.
A handful of notable mortgage rates increased. But a series of rate cuts from the Fed could help mortgage rates fall in the long term.
Multiple benchmark refinance rates moved higher this week, but refinancing could be still make sense for other reasons.
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