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Repair common Windows errors and clear accumulated junk for a smoother, more stable PC - no reinstall needed.Free scan · no reinstallOn April 22, 2024, a Yahoo Finance report put the average 30-year fixed refinance rate at 7.30% and the 15-year fixed refinance rate at 6.77%. Those reported daily averages were up 23 and 17 basis points, respectively, from the prior week. They are historical figures—not current offers—and are distinct from Freddie Mac’s separate weekly mortgage survey.
Daily refinance rates reported for April 22, 2024
Kelly Suzan Waggoner’s dated Yahoo Finance report listed these national refinance averages for Monday, April 22, 2024. The figures are attributed to that report; its archived daily methodology is not established here, so they should not be treated as Freddie Mac rates or as a quote available to an individual borrower.
| Loan type | Reported average on April 22, 2024 | Week-over-week change |
|---|---|---|
| 30-year fixed refinance | 7.30% | Up 23 basis points, from 7.07% |
| 15-year fixed refinance | 6.77% | Up 17 basis points, from 6.60% |
| 20-year fixed refinance | 7.16% | Not stated |
| 10-year fixed refinance | 6.63% | Not stated |
| 5/1 adjustable-rate mortgage refinance | 6.56% | Not stated |
| 30-year FHA refinance | 7.19% | Not stated |
| 30-year VA refinance | 7.77% | Not stated |
| 30-year jumbo refinance | 7.39% | Not stated |
Source for all daily figures: Yahoo Finance, report by Kelly Suzan Waggoner dated April 22, 2024. The daily report’s cited values do not establish a personalized rate or full pricing methodology.
How the April 22 refinance report compares with Freddie Mac’s survey
Freddie Mac’s weekly survey, reported April 18, 2024, also showed rates rising—but it measures a separate benchmark, not the same daily refinance series in the table above. Yahoo Finance reported the Freddie Mac 30-year fixed average at 7.10%, up from 6.88% the prior week, and its 15-year fixed average at 6.39%, up from 6.16%.
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| Freddie Mac weekly benchmark | Week reported April 18, 2024 | Prior week |
|---|---|---|
| 30-year fixed | 7.10% | 6.88% |
| 15-year fixed | 6.39% | 6.16% |
Freddie Mac chief economist Sam Khater said in the weekly report, as reproduced by Yahoo Finance: “The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” adding that “purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future.” The quote concerns Freddie Mac’s weekly benchmark, not the Yahoo Finance daily refinance averages.
A further measure appears in the Federal Housing Finance Agency’s April 2024 Foreclosure Prevention and Refinance Report: it says the average 30-year fixed mortgage rate rose to 6.99% in April. FHFA says the plotted rate series comes from Freddie Mac’s Primary Mortgage Market Survey. This monthly figure has a different reporting cadence from both the dated daily report and the April 18 weekly survey.
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What these historical averages mean for a refinance decision
A national average is context, not an offer. A lender’s rate depends on the borrower and loan, including credit and financial profile, property, balance, loan structure, lender, and whether points are paid. Rates change over time; a page updated later cannot establish the exact rate available on April 22, 2024, or what a borrower would be offered now.
For an actual decision, compare written offers using the same assumptions. Look beyond the note rate and compare:
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- Annual percentage rate (APR), discount points, lender fees, and cash due at closing.
- Monthly payment, remaining term on the existing loan, and term of the replacement loan.
- Total interest over the period you expect to keep the loan, plus the time needed for any monthly savings to offset refinancing costs.
- For cash-out borrowing, the amount of cash received, the lien structure, and the rates and costs on all loans involved.
There is no universal break-even period: it depends on the actual costs, payment changes, loan terms, and how long the borrower keeps the loan. A new longer term can reduce the monthly payment while extending repayment, so a lower payment alone does not show that the refinance costs less overall.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.When taking equity, compare a second mortgage with cash-out refinancing
Cash-out refinancing replaces the existing first mortgage with a new, larger first mortgage. A closed-end second mortgage instead provides a one-time disbursement and is repaid on a schedule while the original first mortgage remains in place. If the current first mortgage has a much lower rate than available refinancing, compare the cost of preserving it with the cost of repricing the full balance; the second loan’s rate, fees, and payment still matter.
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What FHFA proposed in April 2024
On April 22, 2024, FHFA published a notice inviting comment on Freddie Mac’s proposed purchase of certain single-family closed-end second mortgages. The proposed loans would be fully disbursed at closing, repaid on a set schedule, and secured by a junior lien. The notice described a proposed fixed-rate, fully amortizing term of up to 20 years, subject to eligibility and other conditions. It was a proposal, not a promise that this product would be available to every homeowner.
FHFA’s illustration—not a general savings estimate
FHFA’s notice illustrated a borrower keeping a 3% first mortgage with a $120,000 current balance and borrowing $30,000 through a hypothetical second mortgage at 9.5% for 20 years. It compared that with a hypothetical $150,000 cash-out refinance at 7.5%. Under the notice’s stated assumptions and calculations, the two-loan option had monthly payments of $912.05 and total interest of $114,779; the cash-out option had monthly payments of $1,048.82 and total interest of $227,576. These are outputs from that particular example, not a forecast, guaranteed savings, or current loan offer; different balances, rates, terms, and fees can change the result.
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Sources and date context
- Yahoo Finance, Kelly Suzan Waggoner, “Daily mortgage rates for April 22, 2024: Average 30-year, 15-year mortgage rates above 7% to open week,” April 22, 2024. The report also reproduces Freddie Mac’s April 18 weekly figures and Khater’s remarks.
- Federal Register, FHFA, “Freddie Mac Proposed Purchase of Single-Family Closed-End Second Mortgages; Comment Request,” April 22, 2024.
- Federal Housing Finance Agency, “FHFA Foreclosure Prevention and Refinance Report — April 2024.”
- Bankrate, “Current Refinance Rates — Compare Rates Today,” updated September 11, 2026. Its general rate-comparison context is not an exact rate for October 3, 2026 or a borrower-specific offer.
Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon at the time of purchase will apply.
