Normally when someone has a low mortgage rate, they don’t refinance into a higher one

With the Fed’s third rate cut this year, refinancing your mortgage at a 0.50% lower rate can save you over $40,000. Here are the best lenders to choose from.

The rate on a 30-year fixed refinance climbed to 6.35% today, according to the Mortgage Research Center. For 15-year fixed refinance mortgages, the average rate is 5.38%, and for 20-year mortgages, the average is 6.

To get the refinance you want, you need to explain your goal in words that the lender understands. This is a guide to what to say, complete with sample sentences that you can use as you kick off a refinancing conversation with a loan officer or mortgage broker.

Refinancing a mortgage means getting a new loan to replace your current mortgage, which could lower your interest rate, accelerate your repayment term or cash out equity — all of which can help you achieve other financial goals. But lenders will charge ...

Homeowners waiting until mortgage rates are lower to refinance their mortgage loans have had good news lately, as rates have fallen coinciding the September federal funds rate reduction. But according to the Neighbors Bank 2025 Mortgage Refinance Study, a ...