Mortgage Refinance Rates Today – June 14, 2025: A Jump of 5 Basis Points

Feeling like your current mortgage just isn't working for you anymore? I get it. Maybe you're looking to lower your monthly payments, shorten your loan term, or even tap into some of your home equity. That's where refinancing comes in. So, the big question: what are the mortgage refinance rates today, June 14, 2025? The national average for a 30-year fixed refinance loan is currently around 7.17%. Keep reading – I'll break down all the different types of rates, what's been happening recently, and what it all means for you.

Mortgage Refinance Rates Today, June 14, 2025

Why Refinance Anyway?

Before we dive into the numbers, let's quickly recap why people refinance their mortgages in the first place. Here are a few common reasons:

• Lower Interest Rate: This is the big one, potentially saving you a ton of money over the life of the loan.
• Shorter Loan Term: Switch from a 30-year to a 15-year mortgage to build equity faster and pay off your home sooner. However, your monthly payments may go up.
• Change Loan Type: Convert an adjustable-rate mortgage (ARM) to a fixed-rate mortgage for more predictability.
• Tap into Home Equity: Take out cash for home improvements, debt consolidation, or other major expenses. Be very careful with this strategy!
• Remove Private Mortgage Insurance (PMI): Once you've built up enough equity (usually 20%), you can refinance to get rid of PMI, which will lower your monthly payment.

Mortgage Refinance Rates Today, June 14, 2025: The Current Snapshot

Alright, let's get down to brass tacks. According to the latest data from Zillow, here’s a bird’s eye view:

• 30-Year Fixed Refinance Rate: 7.17%, up 5 basis points from the previous day (June 13, 2025) and down 5 basis point from the previous week.
• 15-Year Fixed Refinance Rate: 6.05%, up 5 basis points from the previous day (June 13, 2025).
• 5-Year ARM Refinance Rate: 5.97%, unchanged from the previous day (June 13, 2025).

What does this mean? It suggests rates slightly increased Saturday, June 14, 2025 compared to the previous day.

Detailed Refinance Rate Breakdown

Here's a more comprehensive look at refinance rates across different loan types, and also including the APR. Remember, the APR includes fees and other costs, so it's generally a more accurate representation of the total cost of the loan.

Conforming Loans

These loans meet specific criteria set by Fannie Mae and Freddie Mac, making them easier for lenders to sell on the secondary market. This often translates to better rates for borrowers.

PROGRAM	RATE	1W CHANGE	APR	1W CHANGE
30-Year Fixed Rate	6.94%	down 0.05%	7.40%	down 0.05%
20-Year Fixed Rate	6.53%	down 0.30%	6.96%	down 0.28%
15-Year Fixed Rate	6.04%	down 0.03%	6.34%	down 0.03%
10-Year Fixed Rate	6.03%	up 0.10%	6.13%	down 0.04%
7-year ARM	7.58%	down 0.24%	8.08%	down 0.15%
5-year ARM	7.10%	down 0.52%	7.72%	down 0.28%
3-year ARM	—	0.00%	—	0.00%

Points to note: We can observe a slight reduction across most conforming loans with the highest drop in the 5-year ARM program during this period. The only outlier is the 10-year fixed rate, where we see a rate increase by 0.10%.

Government Loans

These loans are backed by the government, making them attractive to borrowers who may not qualify for conventional loans.

PROGRAM	RATE	1W CHANGE	APR	1W CHANGE
30-Year Fixed Rate FHA	6.00%	down 0.70%	7.01%	down 0.71%
30-Year Fixed Rate VA	6.56%	down 0.02%	6.78%	0.00%
15-Year Fixed Rate FHA	5.75%	0.00%	6.72%	down 0.02%
15-Year Fixed Rate VA	5.97%	down 0.02%	6.33%	up 0.03%

Points to note: The Fixed Rate FHA has the largest decline in interest compared to the rest of the loans. Similarly, the Fixed Rate VA also had a reduction in the rates.

Jumbo Loans

These are loans that exceed the conforming loan limits. They often come with slightly higher interest rates due to the increased risk for lenders.

PROGRAM	RATE	1W CHANGE	APR	1W CHANGE
30-Year Fixed Rate Jumbo	7.39%	down 0.46%	7.60%	down 0.69%
15-Year Fixed Rate Jumbo	6.42%	down 0.16%	6.52%	down 0.49%
7-year ARM Jumbo	—	0.00%	—	0.00%
5-year ARM Jumbo	9.63%	up 0.44%	9.14%	up 0.26%
3-year ARM Jumbo	—	0.00%	—	0.00%

Points to note: The rate for 5 year ARM Jumbo is significantly higher than other loan products. The APR for 30 year Fixed Rate Jumbo decreased by .69% within the last week.

Factors Influencing Refinance Rates

Okay, so why are rates where they are? Several factors are constantly at play:

• The Economy: A strong economy can lead to higher interest rates as inflation rises.
• Inflation: Inflation erodes the value of money, so lenders demand higher rates to compensate.
• Federal Reserve (The Fed): The Fed's monetary policy, particularly its decisions on the federal funds rate, has a huge impact on mortgage rates.
• Bond Market: Mortgage rates are closely tied to the yield on 10-year Treasury bonds.
• Global Events: Major world events can create economic uncertainty and influence interest rates.

It's like a complicated dance with all these elements pushing and pulling on each other

Will Refinance Rates Go Up or Down?

This is the million-dollar question, isn't it? Honestly, it's incredibly difficult to predict the future. However, I can tell you what experts are watching:

• Inflation Data: Keep an eye on the Consumer Price Index (CPI) and the Producer Price Index (PPI). If inflation continues to cool, we might see rates stabilize or even decline slightly.
• The Fed's Next Move: Pay attention to the Federal Reserve's announcements and any hints they give about future interest rate hikes or cuts.
• Geopolitical Stability: Global events can quickly disrupt the economic outlook and impact rates.

My take? The market is always unpredictable. It's best to consult with a mortgage professional!

Is Now a Good Time to Refinance?

This depends entirely on your individual circumstances. Ask yourself these questions:

• What's your goal? Are you trying to lower your monthly payment, shorten your loan term, or access cash?
• How long do you plan to stay in your home? Refinancing involves costs, so you need to stay in the home long enough to recoup those expenses.
• What's your credit score? A higher credit score will get you a better rate.
• How do current rates compare to your existing mortgage rate? A general rule of thumb is that it makes sense to refinance if you can lower your rate by at least 0.5% to 1%.
• Are you comparing offers and reviewing your loan options?

Getting the Best Refinance Rate: Tips from an Insider

I've seen a lot of people go through the refinancing process, and here's my best advice:

• Shop Around: Don't just go with the first lender you find! Get quotes from multiple banks, credit unions, and online lenders.
• Improve Your Credit Score: Pay your bills on time, reduce your credit card balances, and avoid opening new accounts before applying.
• Negotiate: Don't be afraid to negotiate with lenders. They want your business.
• Understand the Fees: Ask about all the fees involved in refinancing, such as appraisal fees, origination fees, and closing costs.
• Consider a Mortgage Broker: They can help you find the best rates and terms from a variety of lenders.
• Be Prepared to Act Quickly: Rates can change quickly, so be ready to lock in a rate when you see one you like.
• Don't Forget the Fine Print: Read through all loan documents carefully before signing anything.

The Bottom Line

Keeping an eye on mortgage refinance rates today, June 14, 2025 is a smart move if you're considering refinancing. Rates are always fluctuating, so it's important to do your research, compare offers, and work with a trusted mortgage professional. This information should give you a great basic overview to get started! Ultimately, the decision to refinance is a personal one, so choose the option that makes the best financial sense for you and your family. Good Luck!