We want this to be a “win-win” situation and only want to get paid if we bring you value in the form of finding a personal finance option that works for you, not by selling your data to multiple lenders. Generally, our lenders pay us at the time of receiving your loan application and incorporate the cost of our services as part of the final interest rate on your loan, or in your loan amount. Although we are paid at the time of your application transmission, you only pay this cost if your loan closes. This fee is non-refundable to lenders after they receive your application. This is common practice in mortgage transactions where lenders pay brokers for performing certain services in connection with your loan. If you would prefer to minimize your rate, you may opt to buy "points" to decrease your rate. If you choose to buy points, you would pay this amount to your lender and your final interest rate on your loan or your loan amount would reflect the combined fees of points you purchased and the fee your lender paid us upon receipt of your application.
CURRENT REFINANCE RATES
Check 10-year fixed refinance rates. Then personalize them.
Your refinance rate depends on your credit score and other details. So once you check today’s rates, get a personalized refinance quote just for you.
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WEEKLY TRENDS AND INSIGHTS
National refinance interest rate trends
On December 9, 2024, the national average 30-year fixed refinance rate decreased NaN basis points to %. The current average 15-year fixed refinance rate decreased NaN basis points to %.
For context, the national average 30-year fixed refinance rate was NaN basis points higher a week ago and NaN basis points higher a year ago. The 15-year fixed refinance rate was NaN basis points higher a week ago and NaN basis points higher a year ago.
If you're looking to purchase or refinance a home, Credible is here to help. We can help you quickly compare lenders and check prequalified rates for free, without hurting your credit score.
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Refinance rates by loan term
Home refinance rates rise and fall on a daily basis with changing economic conditions, central bank policy decisions, and investor sentiment. The table below shows recent trends in home refinance rates.
| Product | Interest rate | APR | ||||
|---|---|---|---|---|---|---|
General Information and Rate Disclosures: The listings that appear on this page are from companies that pay Credible compensation. This table does not include all companies or all available products. Displayed information is valid as of Dec 11, 2024 and assumes a customer with a 750 credit score borrowing a conventional loan for a single-family, primary residence, at or near zero discount points, and a 80% loan-to-home-value ratio. For products indicated as a jumbo (e.g. 30-year fixed jumbo rate), displayed information follows the same assumptions as a conventional loan but set at loan above the conforming limit. Here is an example of your payment based on a $400,000 loan amount, for each advertised loan term:
*Payments do not include amounts for taxes and insurance premiums, your actual payment obligation will be greater. The IP address of the customer accessing this page has been used to determine which U.S state should be used for pricing. In states where Credible does not have a license to operate, we are providing information about rates available in a nearby state. If you are viewing this page from an IP address in one of the states where Credible is not licensed, the rates displayed above are for consumers located in the neighbouring state shown below: IP state without license - Assumed location Missouri - Kansas Hawaii - California Rates, payments, and all information displayed are for informational purposes only and are subject to change without notice. This is not a credit decision or commitment to lend. Mortgage rates and terms you may qualify for depend on your individual financial circumstances. Payment Disclosures: All monthly payment amounts above assume on time monthly payments each month for the full duration of the loan term (e.g. 360 monthly payments for a 30 year loan). Displayed monthly payment amounts do not include amounts for property taxes and hazard insurance. Your actual monthly payment obligation will be higher. Amounts for borrower-paid mortgage insurance premiums are included in the monthly payment if (1) the loan amount is below the “conforming thresholds” set by Fannie Mae and Freddie Mac, and (2) the loan-to-home-value ratio is greater than 80%; mortgage insurance premiums are excluded from the monthly payment if either the loan amount is above the conforming thresholds or the loan-to-home-value ratio is less than or equal to 80%. Your actual payment obligation may be higher. “Conforming thresholds” depend on the county where the property is located. Fees Disclosures: The fee amounts shown above include estimates of loan costs and closing costs you may pay in connection with a mortgage transaction with the assumptions above. This includes fees the lender charges, including points and underwriting fees, and third party services the lender does not let you shop for such as a flood certification fee. It does not include title charges, recording costs, prepaids, initial escrow deposit, and other fees. ARM Disclosures: Variable rate products, such as ARMs, have interest rates that can change over the life of the loan. Changes in the interest rate will cause required payment amounts to change.” The displayed rate and payment will be in effect for the number of years in the product’s description (e.g. 5/1 ARM means the initial rate and payment are in effect for 5 years, 7/1 means they are in effect for 7 years, etc.), after which the rate and monthly payment will change every 12 months. Last updated on Dec 11, 2024. These rates are based on the assumptions shown here. Actual rates may vary. | ||||||
REFINANCE TOOLS
Mortgage refinance calculators
Use our mortgage refinance calculators to determine if you can save money on interest, pay off your loan sooner, or turn your home’s equity into cash.
Financial education
Need more info about refinancing a mortgage?
How to refinance your mortgage step-by-step
Refinancing your mortgage can help you get a lower interest rate or lower monthly payment, depending on your goals.
7 min read
Learn moreWhen does it make sense to refinance your mortgage?
If you can shave at least 0.75% off your interest rate and plan to stay in your home for the long haul, consider refinancing your mortgage.
6 min read
Learn moreHow to get the best mortgage refinance rates
To score a great refinance rate on your mortgage, work on building your credit score, get multiple quotes, and consider shortening the term.
6 min read
Learn moreThe true cost of refinancing your home mortgage
Refinancing isn’t free — you’ll have to pay closing costs — but there are ways you can pay less for your new loan.
5 min read
Learn moreThe information in this section is provided for general education purposes only to allow you to shop for the best loan more effectively and does not necessarily reflect Credible services. For homebuyers, we will not display rates, loan options, take a mortgage application, or negotiate loan terms. We will provide advertisements of lenders you can select from based on a description of factors our lenders work with best.
Mortgage Refinance FAQs
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Angela Mae is a freelance writer with a passion for all things personal finance. She has written about consumer loans, debt management, investing, retirement planning, and more. She comes from a journalistic background and pulls from hands-on experience and deep-dive research to breathe life into her stories.
Reina Marszalek is Credible's senior mortgage editor and is an experienced multimedia content creator. She previously served as a managing editor at Policy Genius, where she covered the insurance and home verticals.
Mike Schmidt is Credible's senior manager of mortgage operations and is a licensed mortgage loan originator in 50 states. Mike has spent 18 years in the industry, working at various financial institutions. He has expertise in all mortgage products, including conventional, FHA, and VA loans.
- Inflation: The current inflation rate can affect 10-year mortgage rates. When inflation rises, mortgage rates do as well.
- The Federal Reserve’s policies: The Fed does not determine housing interest rates. But it sets the federal funds rate, which can affect the current 10-year mortgage rates set by mortgage lenders. If the federal funds rate increases, 10-year fixed mortgage rates may also increase.
- Current market conditions: Certain market conditions, such as supply and demand, can impact the housing interest rates today.
- Credit score: Lenders use your credit score to determine how likely you are to pay back your loan. Good credit typically translates to a lower interest rate.
- Mortgage type: The type of loan — like a conventional or FHA loan — can affect your rate.
- Lender: Mortgage lenders can set their own interest rates. Some lenders might be willing to offer a lower rate or alternative financing solution to those who need assistance purchasing a home.
- Loan term: Ten-year fixed mortgage rates may be lower than home loans with longer repayment terms. This is because lenders sometimes view longer-term loans as riskier than shorter-term loans.
- Loan and down payment amount: Taking out a larger loan may also mean taking on a higher mortgage interest rate. Putting down a larger down payment, meanwhile, could lower your overall rate.
- Type of interest: Home loans come with either an adjustable or a fixed interest rate. While adjustable-rate mortgages fluctuate, fixed-rate mortgages do not.
- Property location: Housing interest rates may also vary based on your state or county.
- Shop around: Compare several mortgage lenders to find the best ones and to get a better idea of the 10-year mortgage rates today. If you rate shop within a 45-day window, only your first hard credit inquiry will impact your credit score.
- Get pre-approved for refinancing: With pre-approval, you can compare rates, fees, terms, and more without formally applying for a loan. Pre-approval is not a guarantee of financing.
- Improve your credit score: Your credit score plays a major role in the 10-year mortgage rates you can get. The better your credit score is, the lower your mortgage refinancing rates tend to be. If your credit score is keeping you from getting the best rates, prioritize improving it. This could mean making on-time payments, disputing errors on your credit reports, or getting accounts out of collections.
- Pay down your current debts: Your debt-to-income ratio (DTI) is the percentage of your gross monthly income that goes toward your debt payments. The higher your DTI, the harder it is to get financing or low rates. By paying off your debts, you can lower your DTI, improve your odds of refinancing your mortgage, and get the best interest rates.
- Watch interest rate trends: Since 10-year mortgage rates fluctuate — sometimes daily — it’s important to keep an eye on the current housing interest rates.
- If your credit score has improved, your new housing interest rate could be lower than your current rate.
- Qualifying for the best 10-year mortgage rates could save you money on total interest payments.
- Switching from an adjustable-rate mortgage to a fixed-rate mortgage translates to more consistent monthly payments.
- If your original mortgage had a longer repayment term, refinancing could get you a shorter term and allow you to pay off your debt sooner.
- Refinancing for a shorter term could help you build equity in your property faster.
- A shorter repayment period typically means higher monthly payments.
- Larger monthly payments could make it harder to save or invest, especially if your budget is tight.
- If your credit score hasn’t improved, you might not qualify for the best rates.
- You currently have a mortgage with a longer term (e.g., 30 years) and want to pay it off sooner.
- You have improved your credit score and now qualify for a lower rate.
- You know the current housing rates are lower than they were when you took out your original loan.
- You can comfortably afford the larger monthly payment that comes with a shorter term.
- You currently have an adjustable-rate mortgage and want to swap it for a fixed-rate mortgage.
- You plan to remain in your current home for the foreseeable future.
Get your personalized refinance quote today
Checking rates won’t affect your credit score