Jumbo refinance rates

Find and compare the best jumbo refinance rates from lenders in your area.

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Mortgage rate trends (APR)

NerdWallet's mortgage rate insight
4.73%
30-year fixed

The average rate on a 30-year fixed-rate mortgage fell three basis points, the rate for the 15-year fixed was unchanged and the rate for the 5/1 ARM rose one basis point, according to a NerdWallet survey of daily mortgage rates published Friday by national lenders. A basis point is one one-hundredth of one percent. The average rate on the 30-year fixed is 13 basis points lower than a week ago.

Mortgage rates today (APR)

Loan typeAverage
rate
Change
1 day
Change
1 year
30-year fixed4.73%
0.03%
0.0%
15-year fixed4.28%
0.0%
0.0%
5/1 ARM4.8%
0.01%
0.0%
Data source: NerdWallet Mortgage Rate Index

Jumbo Mortgage Rates

NerdWallet’s mortgage rate tool can help you find competitive Jumbo mortgage rates tailored to meet your needs. Just enter some information about the type of loan you’re looking for and you’ll get a customized rate quote in minutes, without providing any personal information.

What is a Jumbo mortgage?

A Jumbo mortgage is a home loan that’s too big for your lender to sell it to government-sponsored entities Fannie Mae and Freddie Mac. That contributes to making Jumbo loans riskier for your lender, and as a result they typically carry higher mortgage interest rates, require higher down payments and have stricter qualifying criteria.

What loan amount qualifies as a Jumbo mortgage?

A Jumbo mortgage is any loan amount above the national conforming loan limit, which is $424,100 in 2017 for most areas, but can be more in some high-cost markets. For example, conforming loans can top out at $636,150 in Alaska, Washington, D.C., and metro areas in other high-demand housing markets. Limits are even higher in some cities in California and Hawaii.

When should you refinance a Jumbo mortgage?

The decision to refinance a Jumbo mortgage is similar to refinancing a conforming loan: if interest rates fall significantly after you first take out your mortgage, you could lower your monthly payment by refinancing into a mortgage with a lower rate. Or, if you have equity and want to remodel, a cash-out refi could help you pay for the project. That’s just two possibilities. In the final analysis, it’s a matter of running the numbers. And it’s really pretty easy. Using a mortgage refinance calculator, you can see just how much a refinance might save you—now and in the long run.

Learn more about Jumbo loans: