Monthly payments are now around $460 per month for 30-year refis
Refinance rates continued to fluctuate but have remained low by historical standards.
Bankrate’s Rate Trend Index showed that the 30-year FRM averaged 3.81%, falling 17 basis points from last week. A month ago, it was 4.02%.
At the current average rate, borrowers have to pay $466.53 per month in principal and interest for every $100,000 they borrow, down by $9.73 from last week.
The index also revealed that monthly payments on a 15-year fixed refi at a 3.19% rate would cost approximately $699 per $100,000 borrowed.
Lastly, the average rate for a 10-year fixed refi came in at 3.20%. Monthly payments at the rate would cost $974.87 per $100,000 borrowed.
