The cheapest 30-year refinance rates range from 6.88% to 7.02% in states like New York and California, while the highest rates, between 7.08% and 7.11%, are in states like West Virginia and Oregon. National average rates dropped slightly to 7.05%, still above the six-week low of 7.04%. Rates vary due to lender differences, credit scores, loan sizes, and regulations. Mortgage rates are influenced by bond markets, Federal Reserve policies, and lender competition.
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