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The average interest rate on a 30-year fixed refinance mortgage didn't budge at 6.63% today, according to the Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.71%, and for 20-year mortgages, the average is 6.48%.
Related: Compare Current Refinance Rates
30-Year Refinance Rates Drop 0.02 Points
The current 30-year, fixed-rate mortgage refinance average interest rate stands at 6.63%, versus 6.65% last week.
At the current refinance interest rate, borrowers with a 30-year, fixed-rate mortgage of $100,000 will pay $641 per month for principal and interest, according to the Forbes Advisor mortgage calculator. That doesn't include taxes and fees. Over the life of the loan, the borrower will pay total interest costs of about $131,608.
20-Year Refinance Rates Drop 0.02 Points
The average interest rate on the 20-year fixed refinance mortgage is 6.48%. A week ago, the 20-year fixed-rate mortgage was at 6.50%.
A 20-year fixed-rate mortgage refinance of $100,000 with today's interest rate would cost $744 per month in principal and interest. Taxes and fees are not included. Over the life of the loan, you would pay around $79,333 in total interest.
15-Year Mortgage Refinance Rates Drop 0.03 Points
The average interest rate on the 15-year fixed refinance mortgage is 5.71%. A week ago, the 15-year fixed-rate mortgage was at 5.74%.
A 15-year fixed-rate mortgage refinance of $100,000 at today's interest rate would cost $828 per month in principal and interest. Over the life of the loan, you would pay $49,705 in total interest.
30-Year Jumbo Refinance Rates Climb 0.02 Points
The average interest rate for a 30-year, fixed-rate jumbo mortgage refinance (a loan above the federal conforming loan limit of $832,750 in most places) inched up week-over-week to 6.79%, versus 6.76% last week.
At today's interest rate on a 30-year, fixed-rate jumbo mortgage refinance, a borrower would pay $651 per month in principal and interest on a $100,000 loan.
15-Year Jumbo Refi Rates Drop 0.02 Points
A 15-year, fixed-rate jumbo mortgage refinance has an average interest rate of 6.12%, down 0.02 percentage points from last week.
At today's rate, a borrower would pay $850 per month in principal and interest per $100,000 borrowed for a 15-year, fixed-rate jumbo refi. Over the life of the loan, that borrower would pay around $53,376 in total interest.
Are Refinance Rates and Mortgage Rates the Same?
Mortgage lenders charge different interest rates for purchase and refinance loans. Current refinance rates are typically 0.01% to 0.15% higher for a 30-year fixed rate versus a purchase loan.
You can reduce your interest rate by paying your closing costs up front instead of rolling them into the loan with a no-closing-cost refinance loan. Buying discount points and avoiding mortgage insurance can also help.
When considering a mortgage refinance, compare your current interest rate, mortgage balance and loan term with the new interest rate and term. This comparison helps you estimate your new monthly payment and savings, making it easier to determine if refinancing is the right choice.
Refinance Rate Trends for 2026
National average mortgage interest rates will have the most significant impact on refinancing trends throughout 2026, whether they rise or fall.
While predicting mortgage interest rates is challenging, experts expect them to remain in the low-to-mid 6% range through the first half of 2026, with a chance that they fall further if the Federal Reserve continues to cut its federal funds rate as it did at its last three meetings of 2025.
Since experts anticipate mortgage rates remaining steady through the start of 2026, homeowners waiting to refinance at a lower rate may want to hold off a while longer to secure the best rate. In the meantime, improving your credit score, making on-time payments and paying down your loan amount will put you in the best position to secure a low rate when you begin shopping for a refinance offer.
Frequently Asked Questions (FAQs)
How do you find the best refinancing lender?
You should always shop around when you're trying to get a new mortgage or refinance an existing one. Take a look at the best mortgage refinance lenders as a starting point and try applying online. Always find out the closing costs each lender will charge, and make sure you're able to communicate well with the lender you want to choose. In a bumpy housing market, you'll probably be in touch with the lender more often than you realize.
How quickly can you refinance a mortgage?
Many lenders refinance your mortgage in about 45 to 60 days, but it depends on the type of mortgage you choose and other factors. Ask your lender what their time frame is before you borrow to make sure it's right for you.
How soon can you refinance a mortgage?
In many cases, you can refinance a mortgage as soon as six months after you start paying it down, although some lenders insist that you wait 12 months. You should ask your lender to be sure.
