30 year fixed refinance rate
7 Bps Drop In Mortgage Rates Slashes Retiree Payments
A 0.25% drop in the 30-year fixed mortgage rate cuts a retiree’s monthly payment by about $150, allowing many to finish paying off their home by age 75. This modest shift follows a recent seven-basis-point dip that pushed the national average to 6.46% on May 1 2026,