The rate on a 30-year fixed refinance rose to 6.24% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.3%. On a 20-year mortgage refinance, the average rate is 6.

A mortgage refinance swaps out your old mortgage with a new one, including a fresh set of terms and interest rate. It may or may not come with financial benefits, depending on your goals and how a new loan quote stacks up against your existing home loan.

While millions of Americans find themselves busy with Thanksgiving this week and the holiday season overall, homebuyers and current owners considering a refinance may want to take a moment to revisit the mortgage rate climate. Not only have mortgage ...