Refinance Rates for October 23

Find and compare refinance rates below or read the latest mortgage rates analysis.

Important information about our rate tables

About our Mortgage Rate Tables: The above mortgage loan information is provided to, or obtained by, Bankrate. Some lenders provide their mortgage loan terms to Bankrate for advertising purposes and Bankrate receives compensation from those advertisers (our "Advertisers"). Other lenders' terms are gathered by Bankrate through its own research of available mortgage loan terms and that information is displayed in our rate table for applicable criteria. In the above table, an Advertiser listing can be identified and distinguished from other listings because it includes a "Next" button that can be used to click-through to the Advertiser's own website or a phone number for the Advertiser.

Availability of Advertised Terms: Each Advertiser is responsible for the accuracy and availability of its own advertised terms. Bankrate cannot guaranty the accuracy or availability of any loan term shown above. However, Bankrate attempts to verify the accuracy and availability of the advertised terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. Click here for rate criteria by loan product.

Loan Terms for Customers: Advertisers may have different loan terms on their own website from those advertised through To receive the rate, you must identify yourself to the Advertiser as a customer. This will typically be done by phone so you should look for the Advertiser's phone number when you click-through to their website. In addition, credit unions may require membership.

Loans Above $424,100 May Have Different Loan Terms: If you are seeking a loan for more than $424,100, lenders in certain locations may be able to provide terms that are different from those shown in the table above. You should confirm your terms with the lender for your requested loan amount.

Taxes and Insurance Excluded from Loan Terms: The loan terms (APR and Payment examples) shown above do not include amounts for taxes or insurance premiums. Your monthly payment amount will be greater if taxes and insurance premiums are included.

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Average Refinance Rates

Refinance mortgage rates change daily, and refinancing when mortgage rates are low may save you thousands of dollars over the life of the loan. Find average rates for various mortgage products, and compare rate fluctuations over time, using our table below.
Average Refinance Rates
Product Rate Change Last week
30 yr fixed mtg refi 3.79% - 0.01 3.80%
15 yr fixed mtg refi 3.10% + 0.05 3.05%
5/1 ARM refi 3.49% + 0.03 3.46%
7/1 ARM refi 3.51% 0.00 3.51%
Last update: 10/23/2017
The rate you'll receive on a refinance mortgage loan depends on several variables: your credit score, the loan type, loan amount, points, location and amount of equity. And when it comes to mortgage products, the shorter the loan term, the less you'll pay in interest over the life of the loan. Longer loans - like 30-year fixed-rate mortgages, for example - typically come with higher rates and steeper interest costs. But the monthly payments are lower than for shorter-term products, like 15-year loans. When you refinance, you don't have to start over with a 30-year loan. You can ask the lender to amortize the new mortgage for a shorter period. For example, if you have had a 30-year mortgage for four years, you have 26 years remaining on the loan. When you refinance, you can ask the lender to amortize it over 26 years, so you keep the same payoff date. Or you can refinance into a 15-year loan or an even shorter mortgage. The type of loan product you choose will depend on what you can afford monthly in principal, interest, property taxes, insurance, and other costs.
Refinance Rates Help

Getting a mortgage loan is a big commitment. Learn about all the variables involved in getting a mortgage and the impact these variables have on your interest rate. Before buying your new home, you can find the most common variables that go into calculating estimated monthly payments and interest rates provided here.

  • Purchase/Refinance

    Click "Purchase" if you are buying a home. Click "Refinance" if you own a home and you want to replace your mortgage with another loan at a different rate and terms.

  • Location

    Write your city and state. You might see a bigger selection if you choose the nearest large city.

  • Property value

    Write your estimated property value.

  • Loan balance

    Type the amount you want to borrow. The default is $210,000, but you should enter your own number.

  • Product

    Select which type of mortgage you are shopping for: a 30-year fixed-rate refi, a 20-year fixed refi, a 15-year fixed refi, an adjustable-rate mortgage (ARM) with an introductory rate lasting 5, 7 or 10 years, or a 30-year Veterans Affairs loan.

  • Credit score

    If you know your credit score, select the range that your score belongs to. The best rates and terms go to borrowers with credit scores of 740 and higher, and borrowers in the 720 to 739 range can get very good deals, too.

  • Points

    Select the range of discount points that you are willing to pay. Discount points are an upfront fee that you pay to get a lower interest rate. One point is 1 percent of the loan amount. On a $100,000 mortgage, if you pay 1 point, you pay an upfront fee of $1,000.