With the Fed’s third rate cut this year, refinancing your mortgage at a 0.50% lower rate can save you over $40,000. Here are the best lenders to choose from.

The rate on a 30-year fixed refinance declined to 6.32% today, according to the Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.37%. For 20-year mortgage refinances,

To get the refinance you want, you need to explain your goal in words that the lender understands. This is a guide to what to say, complete with sample sentences that you can use as you kick off a refinancing conversation with a loan officer or mortgage broker.

There's good and bad news for home shoppers hoping for lower mortgage rates in 2026 — they're likely to fall more in the new year but shouldn't drop much below 6.0%, if they reach that. But the decrease may help you afford a home .

SoFi reports refinancing a mortgage replaces an old loan with a new one, potentially offering better terms, but costs must be carefully weighed.

In 2025, average rates on 30-year, fixed-rate loans have pretty much stayed within a range of 6.5% to 7%. This has some frustrated would-be borrowers asking when mortgage rates will be 3% again, as they were in 2020 and 2021.