Compare Today's 30-Year Fixed Refinance Rates

Why should I compare 30 year refinance mortgage rates?

Mortgage lenders vary in many ways, including what interest rate they'll offer you. Comparing refinance mortgage rates can help you find the lender who will give you the best deal.

Borrowers who shop around can save significantly. Freddie Mac researchers have found that a home shopper who got two rate quotes could save up to $600 in interest per year, and a shopper comparing four or more rate quotes could save over $1,200 annually. ^[0] The rate differences are often just fractions of a percentage point, but they add up.

You can get started right on this page by entering basic information about the loan you're seeking. Input your ZIP code, refinance amount and approximate credit score to see sample 30 year refinance rates from mortgage lenders.

» MORE: Ways to get the best refinance rates

Will 30-year refinance mortgage rates drop?

Mortgage rates fluctuate daily and are influenced by the economy, the inflation rate and the health of the job market. Unpredictable events, like geopolitical turmoil, can affect all of those factors. See NerdWallet’s mortgage interest rates forecast to get our take.

The 30-year fixed refinance mortgage rate you'll be offered will vary from that average based on your characteristics as a borrower. The value of your home, your home's location, your income and debts, and your credit score are among the variables that lenders will consider when quoting refinance mortgage rates.

» MORE: How are mortgage rates determined?

Should I refinance to a new 30-year mortgage?

When you refinance, you decide how long you want your new mortgage to be. You could opt for a shorter term to pay off your mortgage more quickly.

The most common option is to start over with a new 30-year mortgage. A 30-year fixed-rate refinance gives you a new home loan that maintains its interest rate and monthly principal-and-interest payment over the 30-year loan period.

» MORE: When should you refinance your mortgage?

6 steps to refinance

Considering refinancing to a new 30-year fixed rate loan? Here are the basics.

1. Figure out if a refi is the right move. Knowing your goal will help you determine whether a refinance will pay off. If saving money is your goal, you want to be sure not only that you're getting a lower interest rate but also that you'll stay in the home long enough to reach the break-even point. If you have another plan, like taking cash out to renovate your home, make sure your budget can handle larger mortgage payments.

» MORE: Learn mortgage refinance basics

2. Make sure your finances are solid. A track record of consistently paying your mortgage isn't enough. Make sure your credit score is in good condition and your debts are under control. If your credit score is on the low side or your debt-to-income ratio is high, you may want to work on those before applying to refinance.

3. Save up for closing costs. A refinance may be less pricey than a home purchase because you don't make a down payment and you can skip some steps, like the home inspection. But refinances do come with closing costs, which include a lender origination fee and appraisal. These generally run 2% to 6% of the amount of your refinance. Sometimes lenders will let you roll these costs into the amount you're refinancing — that's called a no-closing-cost refinance — but if you do that, you'll pay interest on a larger loan.

4. Compare mortgage refinance offers. You may want to get a quote from the lender that originated your mortgage, but you don't have to stick with the same lender. Comparing rate quotes as well as lender fees will help you get the best deal on your refi.

5. Choose a lender and lock your rate. Once you're applying for your refinance, you may also want to lock your interest rate. A rate lock holds your refi rate steady until closing. With a rate lock, even if mortgage rates go up while you wait for the lender to finish underwriting, your rate won't change.