Guide
Break-even matters
A lower rate is not enough by itself. You need enough monthly savings to recover closing costs before you sell, refinance again, or pay off the loan.
Updated July 02, 2026
Refinance Calculator
Use a refinance calculator to compare your current loan against a possible new rate before requesting lender quotes.
Data source: Freddie Mac PMMS. Rates are planning benchmarks, not guaranteed lender offers.
Featured benchmark
6.58%APR 6.73%
Planning estimate based on the 30-year benchmark plus lender spread
Current rate table
Compare the weekly fixed-rate benchmark with a refinance planning estimate before requesting personalized quotes.
30-Year Fixed
Weekly PMMS benchmark for conforming purchase loans
Rate
6.43%
APR
6.58%
15-Year Fixed
Shorter term with lower lifetime interest
Rate
5.79%
APR
5.94%
Refinance Planning
Planning estimate based on the 30-year benchmark plus lender spread
Rate
6.58%
APR
6.73%
Calculator
Refinance savings estimate
Start with your remaining balance and compare it against a new planning rate.
Estimated monthly principal and interest
$2,294
Loan principal$360,000
Total interest$465,991
Total paid$825,991
Guide
Do not ignore loan term
Restarting a 30-year term can lower the payment but increase total interest. Compare both monthly savings and lifetime cost.
Frequently asked questions
What is a refinance break-even point?
It is the number of months needed for monthly savings to recover refinance closing costs.
Should I refinance if I plan to move soon?
Usually only if the break-even period is shorter than your expected time in the home.
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