Compare today's refinance rates
Compare today’s refinance rates | Tuesday, September 30, 2025
Rates are current as of September 30, 2025 1:19 AM EDT
National average refinance rates:
30-Year Fixed
APR 7.38%
0.00% 1w15-Year Fixed
APR 7.77%
0.00% 1w5-Year ARM
APR 7.01%
-0.12% 1w7 ResultsShowing rates for: Refinance, Good (720-739), 30-year fixed, Single-family, Primary residence, cash-out
7 Results for: Refinance, Good (720-739), 30-year fixed, Single-family, Primary residence, cash-out. 
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The Nerdy headline
Simplist is an online marketplace of mortgage lenders; human guidance is optional. You’ll make payments to a loan servicer, not to Simplist. Loans are not available in every state.
Home loans overall
NerdWallet rating
4.5
What we like
- Loan origination process can be completed online.
- Offers government-backed FHA and VA loans.
- Offers module that compares mortgage rates among other lenders.
What we don't like
- Offers loans in many states and Washington, D.C., but not nationwide.
- Does not offer home equity loans or lines of credit.
Show details
The Nerdy headline
Midwest-rooted Central Bank offers an online application, which you can track via mobile app. But you’ll have to contact the bank for mortgage rates.
Home loans overall
NerdWallet rating
4.0
What we like
- Among the best when it comes to online convenience.
- Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
- Claims to offer preapproval within 24 hours of loan application.
What we don't like
- You'll have to complete a loan application to see mortgage interest rates.
- Bank branch locations limited to the Midwest.
- Does not offer home equity lines of credit.
NMLS#1880338
APR
6.43%
APR
6.43%
Interest rate
6.38%
Est. mo. payment
$2,184/mo
Total fees
$2,082
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Next Door Lending is a wholly-owned subsidiary of NerdWallet
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NerdWallet rating
5.0
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The Nerdy headline
Better provides a seamless and easy-to-navigate application process and generally offers lower mortgage rates than average. VA loans are available in some states.
Cash-out refinancing
NerdWallet rating4.5
What we like
- Offers a program allowing qualifying buyers to make cash offers.
- Makes it easy to see customized mortgage rates.
- Average interest rates are on the low end compared to other lenders, according to the latest federal data.
What we don't like
- Doesn’t offer USDA loans.
- VA loans are not available in every state.
- Doesn't offer home equity loans.
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The Nerdy headline
Home loans overall
NerdWallet rating
4.5
What we like
- Offers a variety of mortgage options, including jumbo loans, and FHA and VA loans.
- Offers home equity loans and lines of credit.
- Displays customized rates, with fee estimates, without requiring contact information.
What we don't like
- Doesn’t offer mortgages in all 50 states.
- Home renovation loans are not available.
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The Nerdy headline
Farmers Bank of Kansas City lets you browse rates and apply online, but branches are Kansas-only. Get discounts by using the bank’s partner real estate network.
Home loans overall
NerdWallet rating
4.5
What we like
- Displays customized rates, with fee estimates, without requiring contact information.
- Offers home equity loans and lines of credit.
- Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.
What we don't like
- Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
- Home renovation loans are not available.
- Mortgage rates are on the high side compared to other lenders, according to the latest federal data.
Show details
The Nerdy headline
New American Funding offers a large menu of loan products, including government loans, but its mortgage origination fees tend to be on the high side.
Cash-out refinancing
NerdWallet rating4.5
What we like
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Offers a program to enable buyers to make cash offers.
What we don't like
- Mortgage origination fees tend to be on the high end, according to the latest federal data.
About these rates: The lenders whose rates appear on this table are NerdWallet's advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender's site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner's assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.
Explore historical refinance rate trends
See how rates have changed over time to understand past patterns and economic fluctuations
Historical timeline
Loan purpose
Loan type
30-year Fixed
National average 7.38%
Today's average refinance mortgage rates
| Product | Interest rate | APR |
|---|---|---|
| 30-year Fixed | 7.31% | 7.38% |
| 30-year Fixed FHA | 5.88% | 6.69% |
| 30-year Fixed VA | 6.49% | 6.71% |
| 20-year Fixed | 7.75% | 7.83% |
| 15-year Fixed | 7.54% | 7.77% |
| 10-year Fixed | 6.69% | 7.07% |
| 3-year ARM | 4.13% | 4.87% |
| 5-year ARM | 6.25% | 7.39% |
| 7-year ARM | 5.63% | 6.79% |
| 10-year ARM | 7.31% | 7.38% |
Accurate as of 09/29/2025.
Data source: ©Zillow, Inc. 2025. Use is subject to the Terms of Use
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Today’s refinance mortgage rates | Tuesday, September 30, 2025
Last updated 1:19 AM EDT
On Tuesday morning, September 30, 2025, the average interest rate on a 30-year fixed-rate mortgage refinance held steady at 7.38% APR, compared to yesterday.
The average rate on a 15-year fixed-rate mortgage refinance held steady at 7.77% APR.
The 30-year fixed-rate refinance rate is the same as one week ago and 147 basis points higher than one year ago.
A basis point is one hundredth of a percent, or 0.01%. We describe mortgage rates’ ups and downs in basis points because they simplify comparisons.
NerdWallet’s rates are expressed as an annual percentage rate, or APR, and our mortgage rates data comes from Zillow.
How to find today’s refinance mortgage rates
NerdWallet’s comparison tool can help you find competitive refinance mortgage rates today. In the filters above, enter details about the loan you’re looking for, and you can see rate quotes without providing personal information.
How does a mortgage refinance work?
With a mortgage refinance, you replace your current home loan with a new one. Much like when you bought your home, you’ll have to meet the lender’s refinance requirements and go through the application and closing process.
How do you get the best refinance mortgage rate?
To get the best rate and terms, shop around and get quotes from at least two lenders — and preferably at least four. NerdWallet’s expert-curated list of the best refinance mortgage lenders is a great place to start. When you review the Loan Estimate, see which lender is offering you the best deal by comparing these key details:
- Interest rate.
- Estimated closing costs and other fees.
You can control a few things that have a big impact on your personal interest rates. These include:
- Your credit score: In terms of factors you can alter, your credit score is front and center for influencing the mortgage refinance rate you will receive. Check your credit report before refinancing to make sure there aren’t any errors. Build your credit score before refinancing by paying your bills on time and keeping credit utilization low.
- How much debt you have: For a conventional loan refinance, lenders usually want a debt-to-income ratio of no more than 36%. Your DTI is the amount of debt you pay each month divided by your gross, or pre-tax, monthly income.
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The type of refinance can also affect your interest rate. Lenders generally consider cash-out refinances to be the most risky, because you borrow against home equity and take out a larger loan. As a result, cash-out refinances tend to have higher interest rates than rate-and-term refis.Nerdy Tip
Finally: When you pick a lender, lock in your refinance mortgage rate. Rates go up and down daily, and a rate lock will prevent the interest rate you've been offered from rising before your loan closes.
But what if rates keep going down after your rate lock? Ask if your lender offers a “float down” option, which will protect you if rates take a downward turn.
» MORE: How mortgage rates are set
How much does it cost to refinance a mortgage?
You don't make a down payment when you refinance, but refinancing isn't free. You'll pay refinance closing costs, which generally run from 2% to 6% of the amount of your new loan. For example: If you're refinancing $250,000, your closing costs could be between $5,000 and $15,000
Closing costs on a refinance include:
- Origination fee.
- Appraisal fee.
- Discount points, which are an optional fee that brings down your interest rate. (Learn when it makes sense to pay for discount points.)
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Some lenders offer no-closing-cost refinances. With these loans, you don’t have to pay the closing costs upfront, but you will pay them one way or another. Lenders cover the cost by charging a higher interest rate or rolling the fees into the loan amount. Increasing your loan amount bumps up your monthly payment and total interest. Nerdy Tip
How long does it take to refinance a mortgage?
Refinancing takes at least four to six weeks. It takes time to go through underwriting and for the lender to get an appraisal. In most instances, this isn't a big deal; it's not like you're waiting to move. But if you’re looking to tap into equity to fix something urgent, a refi may not be your best bet. Depending on the amount you need, you might consider another way to finance major home repairs or renovations.
Reasons to refinance your mortgage
There are several reasons you might choose to refinance your mortgage. In some cases, you may be able to accomplish multiple goals at once: for example, switching loan types and changing the loan's term.
You might refinance to:
- Reduce your interest rate. If rates have dropped since you bought your home or your credit score has improved, a rate and term refinance may allow you to reduce your monthly mortgage payment. A lower interest rate could also save you a considerable amount of cash over the life of the loan.
- Pay off your mortgage quicker. You can pay off your loan faster by refinancing from a 30-year mortgage to a 15-year mortgage, for example. While your monthly payments will rise, shortening your loan term could dramatically reduce the amount of interest you'll pay.
- Tap into your home equity. With a cash-out refinance, you take out a new mortgage for more than your current loan balance. You receive the difference between the two amounts in cash, which you can use as you like. A cash-out refinance can be risky because you're getting a larger loan with your home as collateral, so it's generally considered safest to use the proceeds for something that improves your bottom line. For example, a major renovation could add to your home's value.
- Switch from an adjustable-rate to a fixed-rate mortgage. If you want more payment stability, you can refinance your adjustable-rate mortgage to a fixed-rate mortgage. After a specified amount of time, the rate on the ARM may adjust higher, while the rate stays the same with a fixed-rate loan.
- Eliminate private mortgage insurance. If you bought your home with less than 20% down on a conventional loan, your lender likely required you to take private mortgage insurance, or PMI. This protects the lender in the event you default on the loan. If you’ve gained enough equity in your home, you can refinance to eliminate the PMI. However, it may make more sense simply to pay for an appraisal to cancel your mortgage insurance early.
- Cancel FHA mortgage insurance. Refinancing is usually necessary to remove FHA mortgage insurance, which is determined by the amount of your down payment, not your equity. Going from an FHA loan to a conventional loan allows you to drop FHA mortgage insurance. But be sure you'll have at least 20% equity, so you don't end up paying private mortgage insurance.
- Add or remove a borrower from the loan. Changing who's on the mortgage doesn't alter who owns the property — that's what the title or deed is for — but it does affect who's on the hook for the home loan. Generally, if you want to remove someone from your home loan and that person is still living, you'll have to refinance. (This could be necessary in a divorce, for instance.)
- Note that the person or people remaining on the loan will need to be able to qualify for the refi without that other borrower. It's a similar process to add someone to the mortgage: The new person will need to qualify along with the current borrower.
At what interest rate should you refinance?
There isn’t a standard rule about when it makes sense to refinance your mortgage. Some experts recommend refinancing if you can lower your mortgage rate by 1% or more. But a smaller drop may still make sense for you. Crunch the numbers with NerdWallet’s mortgage refinance calculator.
When deciding if you should refinance, consider how much longer you plan to stay in your home. If you plan to move soon, you might not have time to recoup the costs of refinancing, sometimes called the break-even point. You break even on a refinance when the money saved from refinancing outweighs how much you spent on closing costs.
Note that if saving money isn't your primary refinancing goal — for example, if you're taking cash out — this isn't a helpful metric.
Finally: Ask your lender about any prepayment penalties. While these penalties aren’t common, some lenders may charge them if you pay off the loan within the first three to five years of a mortgage. This penalty might apply if you pay off your existing loan while refinancing to a new one.
Learn more about refinancing your mortgage:
This article has been updated to reflect the most recent fact-checking as of June 26, 2025.
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