Refinance Relief Slips Further Away as Rates Stay Stubbornly High

Thousands of homeowners who hoped to refinance to cheaper loans are stuck as average 30‑year rates hover around 6%–7% for years. Refinancing only pays off if you can drop at least about one percentage point, a hurdle that has kept relief out of reach even after rate dips briefly appeared. People like Patrice De La Ossa are paying hundreds more each month (about $900 in her case) while others delay plans to buy a home or pay down debt, illustrating how the persistent high rates are delaying relief for years to come.