Overall, it's unlikely we'll see another refinancing boom like the one in 2020-21 when mortgage rates were exceptionally low around 3%. Nevertheless, refinancing might be beneficial for other reasons, like changing the type of home loan, term length or taking someone off the mortgage.

July 22, 2025 show both steady trends and minor shifts, leaving U.S. homebuyers and refinancers wondering—should you lock in now or wait? With 30-year fixed rates still hovering between 6.66% and 6.85%,