Mortgage rates tick up as investors react to tariff pause and await Fed’s next move. 30-year fixed averages 6.76%.

Several benchmark refinance rates were higher this week, making it harder to find a lower rate on a home loan.

After falling 10 basis points over the previous two days, 30-year refinance rates have climbed back 9 points across Thursday and Friday. The new 7.15% average is still a slight improvement vs. mid-April,

Refinance rates are trending higher. The 30-year fixed refinance rate jumped to 6.92% on May 6, 2025. Find out how much monthly payments cost.

Average mortgage refinance rates have been volleying between 6.5% and 7% as fears of both higher inflation and an economic slowdown play tug-of-war with financial markets. Overall, rates are too high for most homeowners to save money from refinancing.