Mortgage Rates Today: 30-Year Refinance Rate Rises by 25 Basis Point

Mortgage rates today show a significant jump, with the 30-year refinance rate surging by 25 basis points.

This means if you were planning to refinance your home to lock in a better deal, now might be a crucial time to act.

A basis point is simply one-hundredth of a percent. So, a 25 basis point increase translates to a 0.25% jump in the interest rate.

This kind of talk from the Fed can make financial markets a bit jumpy, and that directly influences mortgage rates.

The increase in the 15-year fixed rate also signals a broader trend of rising borrowing costs across different mortgage products.

It's clear that even modest increases can add up. This is why staying informed about mortgage rates is so important for any homeowner.

The markets are reacting to mixed signals, and while improvement is the goal, the journey there might be a bumpy one.

Marco Santarelli is an investor, author, Inc. 5000 entrepreneur, and the founder of Norada Real Estate Investments – a nationwide provider of turnkey cash-flow investment property.