Mortgage rates are currently at their lowest point in a year, with the 30-year fixed rate at 6.15%. Refinancing is becoming more popular due to these low rates. Here are the current mortgage rates: 30-year fixed: 6.15%, 20-year fixed: 5.97%, 15-year fixed: 5.57%, 5/1 ARM: 6.38%, 7/1 ARM: 6.45%, 30-year VA: 5.69%, 15-year VA: 5.25%, 5/1 VA: 5.70%. Mortgage refinance rates are typically higher than rates for buying a home. Consider your goals when choosing between a 15-year or 30-year mortgage. It’s recommended to focus on personal finances for the best mortgage rate rather than waiting for rates to drop further.

Read more at Yahoo Finance: Check the low rates and sample monthly payments