Shan Ahmed Khan

Shan Ahmed Khan

Shan Ahmed Khan is a senior markets reporter at TS2.tech. His coverage ranges from stocks and technology to economic developments across global markets. He worked in investment research and market analysis before becoming a financial journalist and is a graduate of the Lahore University of Management Sciences (LUMS).

Mortgage Refinance Rates Hold Above 6% — and Homebuyers Still Won’t Call That “Good”

Mortgage Refinance Rates Hold Above 6% — and Homebuyers Still Won’t Call That “Good”

Refinancing still isn’t cheap for U.S. homeowners. The average 30-year fixed refi rate clocks in at 6.24%, according to Zillow figures cited by Fortune. Jumbo 30-year refinance rates? Those hit 7.04%. As for government-backed loans, 30-year FHA and VA refi rates are at 5.89% and 5.80%, respectively. Fortune notes closing costs typically land in the 2% to 6% range. The math only works out for most borrowers when the new rate undercuts the old one by about a full point.
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AI PORTFOLIO

Top Stock Picks

Today’s highest-ranked model selections.

#1 Buy

Alphabet

Alphabet (NASDAQ:GOOGL) 92/100 ★★★★★
#2 Buy

Amazon

Amazon (NASDAQ:AMZN) 90/100 ★★★★★
#3 Accumulate

NVIDIA

Nvidia (NASDAQ:NVDA) 89/100 ★★★★½
#4 Accumulate

Microsoft

Microsoft (NASDAQ:MSFT) 86/100 ★★★★☆
#5 Selective buy

Meta Platforms

Meta Platforms (NASDAQ:META) 84/100 ★★★★☆
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Editorial model selection. Not personalised advice.
MARKET CALENDAR

Key Events Today

The catalysts most likely to move markets.

#1

Empire State Manufacturing

A figure above or below the 12.0 consensus could impact Treasury yields, the dollar, and cyclical stocks by influencing short-term growth outlooks.

#2

NAHB Housing Sentiment

A reading above or below 33 will influence expectations for housing demand, mortgage rate trends, and homebuilder stocks.

#3

Fabrinet After the Close

Investors are focusing on revenue, margins, and comments on datacom as key factors for companies involved in optical networking and AI infrastructure supply chains.

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Times and estimates may change. Verify before trading.