The rate on a 30-year fixed refinance declined to 6.94% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.96%. On a 20-year mortgage refinance, the average rate is 6.

Mortgage rates for 30-year loans increased slightly but are still hovering near their lowest level of 2025. Rate movement was mixed for other loan types.

Mortgage rates moved slightly lower this week, but not enough to motivate most buyers. The average rate on the 30-year fixed-rate mortgage fell five basis points to 6.79% the week ending Feb. 20, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point.