What are people seeing for home interest rates currently?

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My monthly payment would be about $50 a month more, but it would knock off an additional 6 years of my loan compared to my current $600 additional payments.

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How much would the closing costs be? That’s a good deal if you intend to stay in the house

50 dollars more a month, knock off several years, and plan to stay forever. This is an easy decision. The closing costs will be minimal for a forever home.

Yea $10k is high. I’d shop that deal around and see if you can find better. Check Rocket Mortgage etc

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I bought a house in July on a 30 year fixed rate of 6.875%. I’ve been paying down an additional $600 a month just to help on principal. I have an offer from my mortgage company to refinance to a 15 year for around 5.25%

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Historically that 15 yr 5.25% you are contemplating is quite good.

My wife and I bought a much larger house with 4 acres of land at the end of Feb 2025 and sold our existing smaller house in March 2025 which was on .22 acres (was tough with big dogs) and cleared $362k. Went from 1.625% on the prior house to 6.475% on new house and got the seller/estate agent to buy down the rate to 3.10% for three years and also reduced the purchase amount significantly and we have been paying an additional $600/month too. We will pay it off at the end of yr 3 if mortgage rates haven't declined much. The Fed may cut rates in June but that doesn't mean it would impact mortgage rates. The mortgage broker we used is supposed to call me about a bifurcated mortgage which would lower the mortgage cost but I'm not holding my breath.