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Today's Mortgage Refinance Rates

Whether you’re looking to lower your rate, change your terms, or switch to different loan, explore your options and get your custom rate today.

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Current Home Refinance Rates

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Historical rates shown for context only. See full disclosures below and current rates in the table above. View Legal Disclosures

Rates as of November 9, 2026 · Example loan: $350,000

Lower’s 30-year fixed refinance rate today is 7.000% (7.331% APR), and the 15-year is 6.490% (7.034% APR). On a $350,000 loan, that’s about $2,329 a month in principal and interest over 30 years or $3,047 over 15. Rates can vary by state. Examples use a $350,000 loan, the same loan as the payments in the rate table. Your numbers depend on your balance, your home’s value and your credit.

How much could you save by refinancing?

Monthly savings on a $350,000 balance if you refinance into today’s 30-year fixed rate of 7.000% (7.331% APR), by the rate you have now. If your current rate is at or below about 7.000%, a rate-and-term refinance at today’s rate won’t lower your payment; a cash-out refinance or HELOC may fit better if you need cash.

Your current ratePayment nowNew paymentMonthly savingsBreak-even
7.500%$2,447$2,329$11996 months
8.000%$2,568$2,329$24048 months
8.500%$2,691$2,329$36332 months

Principal and interest only, comparing 30-year payments on the same $350,000 balance. New payment at 7.000% (7.331% APR) with 2.125 discount points. Break-even divides the points and lender fees built into that APR (about $11,389 on this loan) by the monthly savings; title, appraisal and other third-party closing costs add to that (try our refinance break-even calculator with your own numbers). Restarting a 30-year term can mean more total interest even when the payment drops.

15-year vs. 30-year refinance

On a $350,000 loan, a 15-year refinance costs about $718 more a month than a 30-year, but saves about $289,830 in interest over the life of the loan.

Loan termRate (APR)Principal & interestTotal interest
30-year fixed7.000% (7.331% APR)$2,329$488,281
15-year fixed6.490% (7.034% APR)$3,047$198,451

Conforming refinance rates as of November 9, 2026. Rates can vary by state. Total interest assumes you keep the loan for the full term and make every scheduled payment.

Refinance options by loan type

The examples above assume you’re refinancing into a conventional loan. If you have an FHA or VA loan, owe more than the conforming limit, or want to take cash out, one of these options may fit better.

If you have an FHA loan

FHA streamline refinance

Refinance an existing FHA loan with limited credit documentation and often no appraisal. FHA mortgage insurance still applies.

If you have a VA loan

VA IRRRL

The VA’s Interest Rate Reduction Refinance Loan lowers your rate with less paperwork than a standard refinance, with no monthly mortgage insurance.

If you owe more than $832,750

Jumbo refinance

A balance above your county’s 2026 conforming loan limit refinances into a jumbo loan. The limit is $832,750 in most of the country and higher in high-cost areas.

If you need cash

Cash-out refinance or HELOC

A cash-out refinance replaces your loan with a larger one and pays you the difference. A HELOC lets you borrow against your equity and keep your current rate.

Mortgage refinance FAQs

What are refinance rates today?

As of November 9, 2026, Lower’s 30-year fixed refinance rate is 7.000% (7.331% APR) and the 15-year is 6.490% (7.034% APR). FHA refinances are 6.490% (7.381% APR) and VA refinances are 6.500% (6.848% APR). Rates vary by state and depend on your credit, equity, loan amount and points.

When does refinancing a mortgage make sense?

When the monthly savings pay back your closing costs before you sell or refinance again. On a $350,000 loan, going from 8.000% to today’s 7.000% (7.331% APR) saves about $240 a month, and the points and lender fees in today’s quote (about $11,389) take about 48 months to recover. Compare the new term too: restarting at 30 years can add interest even when the payment drops.

How much does it cost to refinance a mortgage?

Costs include lender fees and any discount points, plus third-party costs such as the appraisal and title. In today’s 30-year quote, points and lender fees come to about $11,389 on a $350,000 loan, which is why the APR (7.331%) is higher than the rate (7.000%).

What is the difference between a rate-and-term and a cash-out refinance?

A rate-and-term refinance replaces your loan to change the rate, the term or both, without taking cash out. A cash-out refinance replaces it with a larger loan and pays you the difference in cash, usually at a slightly higher rate.

Can I refinance an FHA or VA loan?

Yes. An FHA streamline refinance lets you refinance an existing FHA loan with limited documentation, and a VA Interest Rate Reduction Refinance Loan (IRRRL) does the same for VA loans. Today’s 30-year FHA refinance rate is 6.490% (7.381% APR) and the VA rate is 6.500% (6.848% APR).

Rates as of November 9, 2026. Rates can vary by state. Conforming loan limits: FHFA, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, loan amount, equity, points and other factors.

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5.0

Katie did an amazing job helping us refinance our home almost 6 years ago. Her knowledge, professionalism and wonderful sense of humor made the process easy and stress free. The new loan made our dream of owning our home happen sooner, while s…aving money. I have and would recommend Katie to friends and family interested in buying a home for their first time or refinancing their current one.

Lynn W.

Verified Customer
5.0

Working with Erica to finance our new home in Fort Myers was an absolute pleasure from start to finish. Buying a home—especially when relocating—can feel overwhelming, but Erica made every single step clear, organized, and stress-free. She wa…s communicative, proactive, and always quick to answer our questions. From initial pre-approval through underwriting and final closing, we always felt supported and well-informed. The online portal made submitting documents and tracking milestones effortless, and everything wrapped up right on schedule. We couldn’t have asked for a better loan officer and would recommend Erica to anyone looking to buy or refinance a home!

Lisa P.

Verified Customer
5.0

Katie was wonderful to work with on this refinance she is on top of everything. Refinancing can be difficult but her commitment to making sure my experience went smoothly and with out a hiccup was great. I will use he…r again in the future for sure .

Gregory M.

Verified Customer
5.0

Very kind and straight forward. Kept up communication and let us know everything we needed. Highly recommend and would go through her again if we ever need to refinance again.

Charles E.

Verified Customer
5.0

TJ was the ultimate professional. She was timely, knowledgeable, extremely patient as I struggled through the process of refinancing my home. Her persistence & ongoing support was much needed & appreciated. She was reassuring reminding me to ta…ke things a step at a time . She listened to my concerns, answered my questions, never pressured me, encouraged me to make decisions based on what I needed most. I would highly recommend her to anyone.

Irma Z.

Verified Customer
5.0

Mike was absolutely great to work with! He made the refinance process easy and stress-free, was very professional, responsive, and always took the time to answer my questions. I truly appreciate his help and highly recommend Mike to anyone look…ing for someone trustworthy and knowledgeable.

Kris G.

Verified Customer
5.0

Sean is the real deal and made my home purchase very easy. I especially appreciate how he has stayed in touch and presented refinance options as the market evolves. Can’t recommend him enough!

Anthony F.

Verified Customer
5.0

Great experience! Cindy was amazing to work with. She is very knowlegable and led us through the process. Everything flowed smothly all the way through the refi process. Would recommend her highly!

Cliff H.

Verified Customer
5.0

I would highly recommend this company to anyone looking to refinance their home. Choosing to do a cash-out refinance on my home turned out to be an incredibly challenging situation filled with numerous roadblocks and an emotional roller coaster… of ups and downs. However, working with Taylor and Anita made all the difference in the world. Throughout the entire process, they provided constant reassurance, deep comfort, and kept my anxiety levels at a manageable level during moments when I felt completely overwhelmed. Their professionalism, empathy, and dedication went far beyond just processing a loan; they truly cared about my peace of mind. I am incredibly grateful for their unwavering support and couldn't have crossed the finish line without them.

Tami T.

Verified Customer
5.0

Katie Lepley made refinancing our home straightforward and stress-free. The initial document collection was easy to navigate, and we completed the signing process within 30 days. Katie guided me through every step and kept me informed about th…e progress she and her team at Lower.com were making. Their communication was excellent, and the entire team was professional and highly capable. I have confidently referred several friends and family members to Katie, knowing they will be in excellent hands.

Diane P.

Verified Customer
5.0

Rayma was so wonderful to work with! She was very professional, kind, and went above and beyond to provide us with information when asked, even if it meant working after hours. She answered all of our questions quickly. She was ensured every de…tail was taken care of from the beginning all the way to closing. She made this process as stress free as possible. When it is time to refinance or purchase, we will call on her again.

Jerry I.

Verified Customer
5.0

I have used Katie Lepley twice- for a loan to purchase a home and to refinance my condo. She is quick and efficient, very professional and really knows this business. She made the process (both times) so seamless and easy. She and her team kep…t me informed every step of the way. I would use her again and highly recommend her for all your loan needs.

Cindy G.

Verified Customer

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