How much equity do you need to refinance your mortgage? – Fox Business
As states continue to make tough decisions about reopening the economy, many homeowners are considering taking advantage of lower interest rates with a mortgage refinance. Mortgage rates hit another historic low with 30-year fixed-rate loans averaging 2.98 percent and 15-year fixed-rate loans averaging 2.48 percent, according to Freddie Mac.
Interest rates have been on a steady decline since the Federal Reserve made emergency rate cuts in March in response to the coronavirus pandemic.