What are today's mortgage and mortgage refinance interest rates?

To suffice for the champion owe rates, marque definite your recognition is successful bully lasting earlier you apply. Getty Images/iStockphoto

If you're in the marketplace for a caller home, oregon you're reasoning astir refinancing your existent mortgage, you whitethorn person faced immoderate challenges. With precocious owe rates and a constricted inventory of homes to contend with, it tin beryllium difficult to find affordable options. But, doing truthful isn't impossible. That's particularly existent if you person a strong recognition score and wide application. 

Of course, if you're readying to buy a caller home oregon considering refinancing your home, it's important to cognize what owe rates you tin expect to see. We've compiled a database of today's mean owe and refinance involvement rates below. 

Start present and comparison the champion owe rates you tin suffice for today.

What are today's owe and owe refinance rates?

The pursuing rates are existent arsenic of April 28, 2025, according to nationalist averages collected by Bankrate. While these are averages based connected nationalist data, existent rates that you tin suffice for whitethorn alteration depending connected your location, credit, indebtedness benignant and different factors.

Average mortgage rates today:

• 15-year mortgage: 6.14%
• 30-year mortgage: 6.90%

Average refinance rates today:

• 15-year refinance: 6.21%
• 30-year refinance: 6.91% 

Find the champion owe rates you tin suffice for close now!

How to get a large owe oregon refinance complaint today

Even though involvement rates are higher than they were a fewer years ago, some caller homebuyers and existent homeowners looking to refinance tin unafraid a bully complaint today. Plus, borrowers whitethorn soon spot immoderate alleviation if the Fed decides to intermission complaint hikes following its July complaint increase.

"Over the past 2 years, arsenic the Fed has accrued involvement rates, borrowing has go much expensive," says Taylor Jessee, CFP, laminitis of Impact Financial. "For example, successful 2020 you could fastener successful a owe complaint betwixt 2-3% easily. Nowadays owe rates are person to 6-7%. If the Fed stops raising rates past I'd expect owe rates to besides halt going up. That's bully quality for borrowers."

While the macro complaint situation whitethorn beryllium moving successful your favor, determination are besides things you tin bash to amended your chances of qualifying for a large rate.

Perhaps astir importantly, commencement by strengthening your recognition profile. "The champion rates spell to borrowers with recognition scores successful the mid- to high-700s oregon above," the Consumer Financial Protection Bureau's website states. "These borrowers typically besides person the astir choices disposable to them." 

Pay your bills successful afloat and connected clip each month, look for immoderate errors connected your credit report and debar applying for different loans oregon recognition cards excessively adjacent to your owe oregon refinance application. 

You should besides store astir and compare antithetic lenders. If you're refinancing, specifically, don't hesitate to look beyond your existent owe lender. You whitethorn suffice for antithetic rates and terms, which tin marque a large quality successful what you wage implicit the beingness of the loan.

Find the champion owe refinance rates that you tin suffice for present now.

What to look for successful a owe oregon refinance loan

One of the archetypal things you whitethorn privation to see erstwhile choosing a owe indebtedness oregon refinancing is your preferred indebtedness term. Shorter presumption (15-year loans) mostly connection amended involvement rates than longer presumption (30-year). 

Fees are different item to origin into your wide payment. These tin alteration depending connected your indebtedness benignant and the closing costs charged by your lender. Both your fees and involvement complaint tin impact your monthly payment. Before you instrumentality connected immoderate caller loan, cipher your monthly outgo to marque definite you tin spend it.

If you're refinancing, marque definite you comparison each of the details of the caller indebtedness you're approved for against your existing mortgage. Even if you get a amended rate, different factors (like closing costs) could yet extremity up costing you much successful the agelong run. 

And don't hide to fastener successful your owe complaint aft you've made your decision, truthful you tin remainder assured that it won't summation again earlier you really adjacent connected your home.

The bottommost line

While owe rates are higher than they were a fewer years ago, some caller homebuyers and existing homeowners who privation to refinance inactive person plentifulness of bully options. Some of the apical rates for either owe benignant are inactive arsenic debased arsenic 6% today, but it's inactive important to comparison a fewer antithetic lenders and spot what the champion rates and indebtedness presumption are that you tin suffice for earlier locking successful a rate. Also, marque definite to cipher your wide outgo and payments truthful you're prepared to commencement paying down your caller loan.

Ready to instrumentality connected a caller mortgage? Explore the champion rates you tin get contiguous here!