Guide
When refinancing may make sense
A refinance becomes more attractive when the monthly savings can recover closing costs within your expected time in the home.
Updated July 02, 2026
Refinance Rates Today
Refinance rates help homeowners decide whether a new loan could reduce payments, shorten the term, or replace a higher-rate mortgage.
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 payment estimate
Use this planning rate to compare a possible new payment with your current mortgage.
Estimated monthly principal and interest
$2,294
Loan principal$360,000
Total interest$465,991
Total paid$825,991
Guide
What to compare
Compare APR, closing costs, loan term, cash-to-close, monthly savings, and break-even timing before applying.
Frequently asked questions
How much lower should my refinance rate be?
There is no universal rule. Focus on monthly savings, closing costs, and how long you plan to keep the new loan.
Do refinance rates differ from purchase rates?
They can. Lender pricing varies by loan purpose, occupancy, cash-out amount, credit profile, and market conditions.
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