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30-year fixed refinance mortgage rates stayed flat at 6.23% today, according to the Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.28%. For 20-year mortgage refinances, the average rate is 5.99%.

Related: Compare Current Refinance Rates

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30-Year Refinance Rates Climb 0.48%

Currently, the average rate for a 30-year, fixed-rate mortgage refinance is 6.23%, up 0.48% from a week ago. Borrowers with a 30-year, fixed-rate mortgage of $100,000 will pay $615 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 $121,846.

Another way of looking at loan costs is the annual percentage rate, or APR. For a 30-year, fixed-rate mortgage, the APR is 6.26%, higher than last week’s 6.23%. The APR is essentially the all-in cost of the home loan.

20-Year Refinance Rates Climb 0.94%

The 20-year fixed mortgage refinance average rate stands at 5.99%, versus 5.94% last week.

The APR, or annual percentage rate, on a 20-year fixed mortgage is 6.03%. It was 5.97% last week.

At the current interest rate, a 20-year, fixed-rate mortgage refinance of $100,000 would cost $716 per month in principal and interest. That doesn’t include taxes and fees. That borrower would pay roughly $72,331 in total interest over the life of the loan.

15-Year Mortgage Refinance Rates Drop 0.08%

The 15-year fixed mortgage refinance is currently averaging about 5.28%, unchanged from a week ago.

The APR, or annual percentage rate, on a 15-year fixed mortgage stands at 5.32%.

At the current interest rate, a borrower using a 15-year, fixed-rate mortgage refinance of $100,000 would pay $805 per month in principal and interest. That doesn’t include taxes and fees. That borrower would pay roughly $45,371 in total interest over the 15-year life of the loan.

30-Year Jumbo Refinance Rates Climb 5.33%

The average interest rate for a 30-year, fixed-rate jumbo mortgage refinance (a loan above the federal conforming loan limit of $806,500 in most places) increased week-over-week to 6.72%, versus 6.38% last week.

At today’s interest rate on a 30-year, fixed-rate jumbo mortgage refinance, a borrower would pay $647 per month in principal and interest on a $100,000 loan.

15-Year Jumbo Refi Rates Climb 1.55%

The average interest rate on the 15-year fixed-rate jumbo mortgage refinance increased to 6.29%, up 1.55% from last week.

Borrowers with a 15-year fixed-rate jumbo mortgage refinance with today’s interest rate will pay $860 per month in principal and interest per $100,000 borrowed. They will pay about $54,945 in total interest over the life of the loan.

Are Refinance Rates and Mortgage Rates the Same?

Refinance rates are different from mortgage rates and tend to be slightly higher. The rate difference can vary by program and is something to consider as you compare the best mortgage refinance lenders.

In addition to having different refinance rates for conventional, FHA, VA and jumbo applications, cash-out refinance rates are higher as you’re borrowing from your available equity.

Rates for government-backed loan programs such as FHA and VA mortgage refinances can be lower than a conventional or jumbo refinance, as there is less risk for lenders. Still, you should compare your estimated loan’s annual percentage rate (APR), which includes all additional fees and determines the interest charges.

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.

When You Should Refinance Your Home

Refinancing your mortgage can be a wise move for many reasons, most notably lowering your interest rate or your monthly payments. It can also help you pay down your mortgage sooner, access your home’s equity or get rid of private mortgage insurance (PMI).

But there are closing costs associated with refinancing, so it probably makes more sense to refinance if you know you’ll be keeping your home for some time. You can determine the “break-even point” for a potential refinance, or how long it will take for savings from a new mortgage to surpass any closing costs. Find out what those costs will be and divide them by the monthly savings you’ll realize with the new mortgage.

The Forbes Advisor mortgage refinance calculator can help you run the numbers to see if it’s a good time for you to refinance.

How To Get Today’s Best Refinance Rates

Refinancing a mortgage isn’t that different than taking out a mortgage in the first place, and it’s always smart to have a strategy for finding the lowest rate possible. Here are some suggested approaches to get the best rate:

• Polish up your credit score
• Lower your debt-to-income ratio
• Keep an eye on mortgage rates
• Consider a shorter loan

Having a strong credit score is one of the best things you can do to get approved and get a lower rate. You’re also likely to look better to mortgage refinance lenders if you don’t have too much debt relative to your income. You should keep a regular watch on mortgage rates, which fluctuate often. Also see if you can manage a mortgage payment for a shorter loan term since they usually have lower interest rates.

What To Know About 2026 Refinance Rate Trends

National average mortgage rates fell to the low-to-middle 6% range during the last few months of 2025, and experts expect this trend to continue going into 2026.

If inflation slows and unemployment levels hold steady or rise, the Federal Reserve may reduce the federal funds rate, potentially leading to lower mortgage rates. However, if inflation stays high and unemployment decreases, rates are likely to remain stable.

Since mortgage rates may only change negligibly in the near future, those looking to refinance at a lower rate should consider monitoring the Fed’s decisions at its meetings during the first half of 2026. In the meantime, improving your credit score and paying down your loan balance will help you secure the lowest possible rate when you’re ready to explore refinancing options.

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