Book a call and get personalized information.
Skip the wait and get started on your pre-approval asap.
Refinance mortgage rates for Updated: June, 15 2026
Compare today’s refinance mortgage rates and discover whether refinancing could help lower your payment, eliminate debt, or access your home’s equity.
5 star rating
100+ reviews
14+ years
Experience
40+ lenders
Compared
Broker
Advantage
Today’s Refi Snapshot
Updated: June, 15 2026
| Product | Interest rate | APR |
|---|---|---|
| 30-year fixed-rate | 6.294% | 6.3% |
| 15-year fixed-rate VA | 5.351% | 5.577% |
| 20-year fixed-rate | 6.156% | 6.164% |
| 15-year fixed-rate | 5.704% | 5.716% |
| 10-year fixed-rate | 5.804% | 5.826% |
| 7-year ARM | 6.04% | 6.258% |
| 5-year ARM | 5.943% | 6.271% |
| 30-year fixed-rate FHA | 5.812% | 6.684% |
| 15-year fixed-rate FHA | 5.705% | 6.407% |
| 30-year fixed-rate VA | 5.765% | 5.976% |
Purchase and refinance mortgage rates updated as of June 15, 2026. Rates are informational only and subject to change. Personalized rates may vary based on credit score, loan amount, property type, occupancy, discount points, and other loan factors. Data Source: Zillow Inc. 2006-2026.
Estimate how much refinancing could save you each month based on your current mortgage payment and potential new interest rate.
Refinancing a mortgage means replacing an existing loan with a new one, usually to take advantage of better interest rates or terms. But when is the right time to refinance your mortgage? Here are some factors to consider:
Lower your interest rate
The primary reason people choose to refinance their mortgages is to secure lower interest rates. A lower interest rate can lead to significant savings over the life of the loan.
For example, on a 30-year $300,000 loan, reducing your interest rate by just 1% could save you more than $50,000 in interest payments.
access your home equity
If you have built up a significant amount of equity in your home, refinancing can also be a good option. This allows you to access cash for major expenses or investments while potentially securing lower interest rates and better terms.
Eliminate PMI
If you’ve originally made a down payment of less than 20% on your home, you’re likely paying for PMI.
Refinancing might be a viable route to eliminate private mortgage insurance. Once you’ve built up 20% equity in your home, either through payments or home value appreciation, you can refinance into a new loan without PMI.
Switch from an ARM to a Fixed Rate
Refinancing may also be a good idea if you want to switch from an adjustable-rate mortgage (ARM) to a fixed-rate loan. This can provide more stability and predictability in your monthly payments, especially if you plan on staying in your home for a long time.
Reduce monthly interest costs.
Improve monthly cash flow.
Eliminate mortgage insurance if you have enough equity.
Use cash for renovations, investments, or pay off debt.
Move from 30 years to 15 years or vice versa.
Explore the most common refinance programs available to homeowners looking to lower their payment, access equity, or change their loan terms.
Lower your interest rate, reduce your monthly payment, or shorten your loan term without taking cash out.
Convert a portion of your home’s equity into cash for renovations, debt consolidation, investments, or other expenses.
A simplified refinance option designed for homeowners who currently have an FHA loan.
Refinance a conventional mortgage to improve your rate, payment, or overall loan structure.
A streamlined refinance program available to eligible veterans and active-duty service members with existing VA loans.
Refinancing options for higher-value properties and loan amounts above conforming loan limits.
Our mortgage brokers can compare multiple refinance programs and help you determine which option best fits your financial goals.
We compare rates from 40+ lenders to find competitive options that fit your needs. You’ll get expert guidance, personalized solutions, and a partner who works for you.
We compare rates from 40+ lenders to find competitive options that fit your needs. You’ll get expert guidance, personalized solutions, and a partner who works for you.
Comparing today’s mortgage rates is a vital step in the home-buying or refinance process, as even a slight difference in rates can have a significant impact on the total cost of a loan over its lifetime. By thoroughly comparing rates from various lenders, borrowers can identify the most favorable terms, potentially saving thousands of dollars in interest payments.
As mortgage brokers, Andes Mortgage LLC has the ability to compare over 30 lenders for you when you start the home loan process with us.
You can click this link to get pre-approved and check the best rate you qualify for. The rates you see in the table above are national average rates provided to Andes Mortgage by our partners at Zillow and designed to give you an idea of what’s going on with today’s mortgage rates. However, they may not be specific to your personal needs.
To get a personalized rate options that you can qualify for, you’ll need to provide some information about the type of process you are looking for, the price or value of the home, your credit score and income. If you would like to see tailor-made options for you, simply start below to get started, and we’ll be sure to get you rate quotes that reflect your situation without inquiring on your credit.
Refinance mortgage rates change daily based on market conditions, inflation, mortgage-backed securities pricing, and lender guidelines. The rate you qualify for will depend on factors such as your credit score, loan amount, home equity, occupancy, and overall financial profile.
Refinancing may make sense if you can lower your interest rate, reduce your monthly payment, remove mortgage insurance, shorten your loan term, or access equity through a cash-out refinance. The best time to refinance depends on your financial goals and how long you plan to keep the property.
Most refinance programs require homeowners to maintain a certain amount of equity after refinancing. While requirements vary by loan type, many conventional refinance programs allow borrowers to refinance with as little as 3% to 5% equity remaining, while cash-out refinances typically require more equity.
Refinancing usually requires a credit inquiry, which may cause a small temporary decrease in your credit score. However, many homeowners see little long-term impact, especially when payments continue to be made on time and overall debt is managed responsibly.
A cash-out refinance replaces your existing mortgage with a new loan while borrowing against a portion of your home’s equity.
For instance, if you currently owe $200,000 on your mortgage and wanted to tap $100,000 out of your home equity, the new total loan amount would be for $300,000. The funds can be used for home improvements, debt consolidation, investments, education expenses, or other financial goals. Also, taking cash out of your home’s equity is not a taxable event.
Possibly. While lowering your interest rate is one reason to refinance, it’s not the only one. Some homeowners refinance to eliminate mortgage insurance, consolidate debt, access equity, switch from an adjustable-rate mortgage to a fixed-rate mortgage, or shorten their loan term. A refinance analysis can help determine whether it makes financial sense.
Refinance closing costs typically range from 2% to 5% of the loan amount and may include lender fees, title fees, appraisal costs, and other expenses. In some cases, borrowers can roll closing costs into the new loan or receive lender credits to offset a portion of the costs.
Get a personal rate in minutes and explore your best loan options – no impact to your credit.
Book a call and get personalized information.
Skip the wait and get started on your pre-approval asap.