Compare Today’s Refinance Rates

By Jeff Ostrowski, Reviewed by Greg McBride, CFA

On , the national average 30-year fixed refinance APR is 3.120%. The average 15-year fixed refinance APR is 2.490%, according to Bankrate’s latest survey of the nation’s largest refinance lenders.

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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.

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Loans Above $548,250 May Have Different Loan Terms: If you are seeking a loan for more than $548,250, 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.

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Current mortgage refinance rates

Mortgage rates change all the time, driven by factors like the economy, Treasury bond rates and demand. Lenders nationwide provide weekday mortgage rates to our comprehensive national survey of the most current rates available. The interest rate table below is updated daily. Use these as a guide to what’s available, but keep in mind your rate may vary depending on your qualifications and the lender you choose.

Product Interest Rate APR
30-Year Fixed Rate 2.940% 3.120%
20-Year Fixed Rate 2.820% 2.990%
15-Year Fixed Rate 2.250% 2.490%
10/1 ARM Rate 3.690% 3.630%
7/1 ARM Rate 3.650% 3.600%
5/1 ARM Rate 2.720% 3.980%
30-Year VA Rate 2.640% 2.870%
30-Year FHA Rate 2.570% 3.460%
30-Year Fixed Jumbo Rate 2.940% 3.030%
15-Year Fixed Jumbo Rate 2.240% 2.320%
7/1 ARM Jumbo Rate 3.880% 3.480%
5/1 ARM Jumbo Rate 2.670% 3.580%

at 6:30 AM

Where are rates headed?

Up. Mortgage interest rates fell to record lows during the coronavirus pandemic, which led to a huge surge in refinancing and homebuying. Rates have been trending up since February 2021 but they are still not far from record-low territory and are relatively low by historical standards. Most experts say it may be many months or even years before mortgage rates return to their pre-pandemic levels.


Mortgage Refinance News

In a bid of good news for borrowers, the Federal Housing Finance Agency plans to eliminate its 0.5 percent fee on refinances as of Aug. 1. The fee applied to loans of more than $125,000 that were bought by Fannie Mae and Freddie Mac.

Borrowers didn’t pay the fee directly. Instead, lenders usually boosted rates by an eighth of a percentage point, or about $20 a month on a $300,000 loan.

What this means for borrowers

The FHFA’s move means that rates on refinances should come down slightly in August.

"Santa Claus has come early for homeowners looking to refinance their mortgages,” says Greg McBride, CFA, Bankrate’s chief financial analyst. “The Federal Housing Finance Agency will repeal the much-maligned half percentage point fee that was being tacked on to Fannie Mae and Freddie Mac mortgage refinancing loans since last year. Some of the savings will make it into the pockets of consumers, but how much the borrower sees will be dependent on shopping around for the best deal."

What to you need to know about refinancing your mortgage

Written by: Jeff Ostrowski, senior mortgage reporter for Bankrate

Jeff Ostrowski covers mortgages and the housing market. Before joining Bankrate in 2020, he wrote about real estate and the economy for the Palm Beach Post and the South Florida Business Journal.

Read more from Jeff Ostrowski

Reviewed by: Greg McBride, chief financial analyst for Bankrate

Greg McBride, CFA, is Senior Vice President, Chief Financial Analyst, for He leads a team responsible for researching financial products, providing analysis, and advice on personal finance to a vast consumer audience.

Read more from Greg McBride