The average interest rate on a 30-year fixed refinance is 6.66% today, according to the Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.78%, and for 20-year mortgages, the average is 6.51%.
Related: Compare Current Refinance Rates
30-Year Refinance Rates Climb 0.06 Points
Currently, the average interest rate for a 30-year, fixed-rate mortgage refinance is 6.66%, up 0.06 percentage points from last week.
Borrowers with a 30-year, fixed-rate mortgage of $100,000 will pay $642 per month for principal and interest at the current interest rate, according to the Forbes Advisor mortgage calculator, not including taxes and fees. Over the life of the loan, the borrower will pay total interest costs of about $132,109.
20-Year Refinance Rates Climb 0.09 Points
The 20-year fixed mortgage refinance average interest rate stands at 6.51%, versus 6.43% last week.
At the current interest rate, a 20-year, fixed-rate mortgage refinance of $100,000 would cost $746 per month in principal and interest. That doesn’t include taxes and fees. That borrower would pay roughly $79,843 in total interest over the life of the loan.
15-Year Mortgage Refinance Rates Climb 0.07 Points
For a 15-year fixed refinance mortgage, the average interest rate is currently 5.78%. At the same time last week, the 15-year fixed-rate mortgage stood at 5.70%.
Based on the current interest rate, a 15-year, fixed-rate mortgage refinance of $100,000 would cost $832 per month in principal and interest—not including taxes and fees. That would equal about $50,294 in total interest over the life of the loan.
30-Year Jumbo Refinance Rates Climb 0.29 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) increased week-over-week to 6.81%, versus 6.53% last week.
At today’s interest rate on a 30-year, fixed-rate jumbo mortgage refinance, a borrower would pay $653 per month in principal and interest on a $100,000 loan.
15-Year Jumbo Refi Rates Climb 0.05 Points
A 15-year, fixed-rate jumbo mortgage refinance has an average interest rate of 6.12%, up 0.05 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 $53,406 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.
Best Mortgage Refinance Lenders
Find the best Mortgage Refinance Lenders for your needs.
Trends in Refinance Rates for 2026
National average mortgage rates hit the low-to-mid 6% range by the end of 2025 and have remained in this range through the start of 2026.
Although forecasting mortgage interest rates is challenging, economic indicators like inflation and unemployment rates can provide insights into the direction of the housing market. For example, if inflation slows and national unemployment levels remain stable or rise, the Federal Reserve may cut the federal funds rate, which could lead to lower mortgage rates. On the other hand, if inflation stays high and unemployment decreases, rates are likely to remain steady.
Since mortgage rates are expected to experience minimal movement during the start of 2026, those looking to refinance at a lower rate should consider waiting until rates decrease. In the meantime, improving your credit score and making on-time payments will allow you to secure the best possible rate when you begin shopping for refinance offers.
Best Mortgage Refinance Lenders
Find the best Mortgage Refinance Lenders for your needs.
Frequently Asked Questions (FAQs)
How much does it cost to refinance a mortgage?
Closing costs for a refinance can be anywhere from 2% to 6% of the cost of the loan. It’s always a good idea to ask the lender what kind of closing costs they’ll charge before you decide to borrow from them.
How quickly can you refinance a mortgage?
You can usually refinance a mortgage in as quickly as 45 to 60 days, but it depends on many factors – like the type of home loan you choose. Always check with your lender before committing to borrow.
How do you find the best refinancing lender?
Our guide to the best mortgage refinance lenders is a good starting point, but make sure you compare multiple lenders and get more than one quote. It’s always a good idea to find out the closing costs lenders charge, and also to make sure you can communicate easily with your lender. Conditions in the housing market change frequently, so being able to depend on your lender is crucial.
