Today’s 30-year refinance rates

How to compare 30-year fixed refinance rates

Lenders nationwide provide weekday mortgage interest rates to our comprehensive national survey to bring you the most current rates available. Here you can see the latest marketplace average interest rates for a wide variety of purchase loans. The interest rate table below is updated daily to give you the most current purchase rates when choosing a home loan. APRs and rates are based on no existing relationship or automatic payments. For these averages, the customer profile includes a 740 FICO score and a single-family residence. To learn more, see understanding Bankrate rate averages.

Mortgage rates and closing costs can vary widely from lender to lender, so shopping around might save you money. Borrowers could save an average of $1,500 over the life of the loan by getting one additional rate quote, and an average of $3,000 by seeking out five quotes, according to Freddie Mac research. (Freddie Mac also found that the reward for shopping around had increased during the rate volatility of 2022.)

Mortgage rates and closing costs can vary widely from lender to lender, so shopping around might save you money.

How to refinance into a 30-year loan

1. Make a plan. Do you want to lower your rate? Pull out equity for home improvements? There should be a good reason why you’re refinancing — whether it’s to reduce your monthly payment, shorten the term of your loan or pull out equity for home repairs or debt repayment.
2. Check your credit score. You’ll need to qualify for a refinance just as you needed to get approval for your original home loan. The higher your credit score, the better refinance rates lenders will offer you. The best 30-year refinance deals go to borrowers with credit scores of 740 or higher. Spending a few months boosting your credit score can go a long way to help you secure a better rate.
3. Shop around. Use Bankrate to compare offers on 30-year refinances and find the best deal for you. You can save thousands if you get quotes from at least three lenders.
4. Compare deals. The interest rate isn’t the only thing to consider in a 30-year refinance. You’ll also want to weigh expenses such as closing costs and points.

Should you refinance into a 30-year mortgage? 

Finding a tempting refinancing offer could be a challenge right now. Mortgage rates surged above 7 percent early in 2025, a move that reflects stubborn inflation and a strong economy.

Still, some housing economists hold out hope that rates could dip. For instance, National Association of Realtors Chief Economist Lawrence Yun predicted in mid-January that rates could retreat to 6.5 percent by spring.

The most common reason to refinance a 30-year mortgage is to reduce your interest rate. By reducing your rate, you’ll lower your monthly mortgage payment as well as the total interest you pay over the loan term. Another popular reason to refinance is to use a cash-out refinance to pay for expenses such as home improvements, to get rid of credit card debt or to pay for emergencies. 

When considering refinancing, you need to understand your goals. Are you trying to lower your payment or pay your loan off sooner? You also need to know that refinancing generally only makes sense if you plan to spend several more years in your home. It can sometimes take years to break even on the cost of refinancing.

30-year refinance FAQ

Additional resources

• 30-year mortgage rates
• 15-year or 30-year calculator
• How to get a low-cost mortgage refinance 
• Bankrate lender reviews

Meet our Bankrate experts

Written by: Jeff Ostrowski, Principal Reporter, Mortgages

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.

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Edited by: Suzanne De Vita, Senior Editor, Home Lending

I’ve covered the housing market, mortgages and real estate for the past 12 years. At Bankrate, my areas of focus include first-time homebuyers and mortgage rate trends, and I’m especially interested in the housing needs of baby boomers. In the past, I’ve reported on market indicators like home sales and supply, as well as the real estate brokerage business. My work has been recognized by the National Association of Real Estate Editors.

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Reviewed by: Greg McBride, CFA, Chief Financial Analyst, Bankrate

Greg McBride is a CFA charterholder with more than a quarter-century of experience in personal finance, including consumer lending prior to coming to Bankrate. Through Bankrate.com's Money Makeover series, he helped consumers plan for retirement, manage debt and develop appropriate investment allocations. He is an accomplished public speaker, has served as a Wall Street Journal Expert Panelist and served on boards in the credit counseling industry for more than a decade and the funding board of the Rose Foundation’s Consumer Financial Education Fund.

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