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Current refi mortgage rates report for Aug. 20, 2026
The current average refinance rate on a 30-year, fixed-rate home loan is 6.716%, according to Mortgage Research Center data. If you’re a homeowner hoping to refinance your mortgage for a lower rate or perhaps to tap home equity, read on to see average refi interest rates for a variety of loan types and terms. You can also see the prior day’s report here.
TL;DR
- Average refinance rate for a 30-year fixed mortgage is 6.716%.
- Rates differ for conventional, jumbo, FHA, and VA loans.
- Refinancing involves replacing an old mortgage with a new one.
- Refinancing requires meeting lender criteria like credit score and DTI ratio.
- Closing costs for refinancing typically range from 2% to 6% of the loan amount.
- Consider refinancing to secure a lower interest rate, access home equity, or change loan terms.
- A rate drop of at least one percentage point is a common guideline for beneficial refinancing.
- Types of refinance include rate-and-term, cash-out, no-closing-cost, and streamline options.
- Shopping around with different lenders may yield better rates and service.