Multiple important refinance rates have declined. Refinancing makes sense if you can get a lower interest rate on your home loan.

Refinance rates for 30-year loans ticked up a single basis point Friday to 7.20%, keeping the average near a recent two-week low. That's compared to 7.32% the prior week, which was the most expensive level since July 2024.

Mortgage rates could keep going up in June as all types of interest rates climb. House prices in most of the country continue to rise, but more slowly.