Refinance Rates for Mar 9, 2026
Compare refinance rates in the table below. Want a personalized quote? See if you qualify with a licensed broker.
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About refinancing
Refinancing your mortgage replaces your existing home loan with a new one, potentially lowering your rate, reducing monthly payments, shortening your loan term, or accessing home equity. With rates fluctuating, homeowners can save hundreds monthly or tens of thousands over the loan's life by refinancing at the right time.
Consider refinancing when rates drop 0.75-1% below your current rate, you want to switch loan types (ARM to fixed), need to remove PMI after building equity, or want to tap equity for home improvements or debt consolidation. The key is ensuring your savings outweigh closing costs.
Types of Refinancing
Rate-and-Term Refinance
Lower your interest rate or change your loan term without taking cash out.
- • Reduce monthly payment
- • Pay off loan faster (30yr → 15yr)
- • Switch from ARM to fixed
- • Remove mortgage insurance
Cash-Out Refinance
Borrow more than you owe and receive the difference in cash.
- • Fund home improvements
- • Consolidate high-interest debt
- • Pay for education expenses
- • Invest in real estate
Streamline Refinance
Quick refinance for FHA, VA, or USDA loans with minimal documentation.
- • No appraisal required
- • Minimal paperwork
- • Lower closing costs
- • Faster approval process
Benefits of Refinancing
- ✓Lower monthly payment with reduced rate
- ✓Save thousands in interest over loan life
- ✓Build equity faster with shorter term
- ✓Access cash for improvements or debt
Considerations
- •Closing costs typically 2-5% of loan amount
- •Break-even calculation needed for savings
- •May restart loan clock to 30 years
- •Appraisal may be required for rate-and-term or cash-out