Refinancing makes sense if you can get a lower interest rate on your home loan. For most homeowners, that isn't the case right now.

The amount of mortgage refinances has drastically slowed since the low rates of 2020 through 2022. The 30-year mortgage rate has hovered in the high-6 percent and low-7 percent range since 2023, according

Rates moved lower for almost all other refi loan types as well Tuesday. The 15-year refinance average dipped a minor 2 basis points, while the 20-year average gave up 8 points and jumbo 30-year refinance rates subtracted a bold 12 basis points.