Refinance rates change every day, and the rate you get depends on your credit, your equity and the type of refinance. One application compares your exact scenario across 30+ lenders, so you see real pricing instead of an advertised teaser rate.
Enter your scenario once. We compare 30+ lenders and show you where you stand.
Check My Refinance RateJoin Rate Watch FREEMortgage rates are set by investors who buy mortgage-backed securities, so they track the bond market, especially the 10-year Treasury, more closely than the Federal Reserve's rate. Inflation reports, jobs data and Fed commentary can move rates within a single day. For the daily numbers, see today's mortgage rates.
| Factor | Why it matters |
|---|---|
| Credit score | Higher scores get better pricing. Small score changes can move your rate. |
| Equity (loan-to-value) | More equity usually means a lower rate and no mortgage insurance on conventional loans. |
| Loan type | Conventional, FHA, VA and jumbo loans are priced differently. |
| Refinance type | Cash-out usually prices higher than rate-and-term. FHA and VA streamlines have their own pricing. |
| Points and credits | Paying points lowers the rate; taking a lender credit raises it but lowers closing costs. |
| Occupancy and property | Primary homes price best; second homes, rentals and condos can cost more. |
Lower your rate, change your term, or drop mortgage insurance without taking cash out.
Should I refinance? →Replace your mortgage with a larger one and take the difference in cash.
Cash-out vs HELOC →A HELOC can get you cash without touching a low first-mortgage rate.
5-Day HELOC →Every business day, and sometimes during the day. Mortgage rates follow mortgage-backed securities and the 10-year Treasury, so jobs reports, inflation data and Federal Reserve news can move them quickly.
Advertised rates assume a high credit score, low loan-to-value, a specific loan amount and often discount points. Your rate depends on your credit, equity, loan type, occupancy and how many points you choose to pay.
Usually, yes. Lenders price cash-out refinances with a small add-on because more of your equity is borrowed. If you only need part of your equity, a HELOC or home equity loan may let you keep your current first-mortgage rate.
Closing costs commonly run about 2% to 5% of the loan amount, depending on lender fees, title, appraisal and points. Divide your total costs by your monthly savings to find your break-even point.
Looking at published rates does not. A formal application includes a credit pull; with one application, your file is compared across 30+ lenders on that single pull.
Not ready yet? Set a target and Rate Watch will alert you when it is reached.
Check My Refinance RateBook a Free CallRates and terms change daily and depend on credit, property, loan amount and lender guidelines. This is not a commitment to lend; not all applicants will qualify. Dan Frio | NMLS #246527 | PBT Bancorp | NMLS #257781. Equal Housing Lender.
