Here Are Today’s Mortgage Refinance Rates: October 10, 2025 – Rates Advance Higher

The rate on a 30-year fixed refinance rose to 6.45% today, according to the Mortgage Research Center. Rates averaged 5.4% for a 15-year financed mortgage and 6.16% for a 20-year financed mortgage.

Related: Compare Current Refinance Rates

30-Year Fixed Refinance Interest Rates Climb 0.64% 

The current 30-year, fixed-rate mortgage refinance average rate stands at 6.45%, compared to 6.41% last week.

The annual percentage rate (APR) on a 30-year, fixed-rate mortgage is 6.47%, higher than last week’s 6.43%. The APR is the all-in cost of a home loan—the interest rate including any fees or extra costs.

At the current interest rate, borrowers with a 30-year, fixed-rate mortgage of $100,000 will pay $629 per month for principal and interest, according to the Forbes Advisor mortgage calculator. That doesn’t include taxes and fees. Over the life of the loan, the borrower will pay total interest costs of about $126,858.

20-Year Refi Rates Climb 0.62% 

The 20-year fixed mortgage refinance average rate stands at 6.16%, versus 6.12% last week.

The APR, or annual percentage rate, on a 20-year fixed mortgage is 6.19%. It was 6.16% last week.

At the current interest rate, a 20-year, fixed-rate mortgage refinance of $100,000 would cost $726 per month in principal and interest. That doesn’t include taxes and fees. That borrower would pay roughly $74,612 in total interest over the life of the loan.

15-Year Fixed Refinance Rates Climb 0.95% 

The 15-year fixed mortgage refinance is currently averaging about 5.4%, compared to 5.35% last week.

The APR, or annual percentage rate, on a 15-year fixed mortgage stands at 5.45%.

At the current interest rate, a borrower using a 15-year, fixed-rate mortgage refinance of $100,000 would pay $812 per month in principal and interest. That doesn’t include taxes and fees. That borrower would pay roughly $46,560 in total interest over the 15-year life of the loan.

30-Year Jumbo Refinance Interest Rates Climb 0.82% 

The average interest rate for a 30-year, fixed-rate jumbo mortgage refinance (a loan above the federal conforming loan limit of $806,500 in most places) inched up week-over-week to 6.75%, versus 6.7% last week.

At today’s interest rate on a 30-year, fixed-rate jumbo mortgage refinance, a borrower would pay $649 per month in principal and interest on a $100,000 loan.

15-Year Jumbo Refinance Rates Drop 0.57% 

The average interest rate on the 15-year fixed-rate jumbo mortgage refinance dropped to 5.77%, down 0.57% from last week.

Borrowers with a 15-year fixed-rate jumbo mortgage refinance with today’s interest rate will pay $831 per month in principal and interest per $100,000 borrowed. They will pay about $49,927 in total interest over the life of the loan.

Are Refinance Rates and Mortgage Rates the Same? 

Mortgage lenders charge different interest rates for purchase and refinance loans. Current refinance rates are typically 0.01% to 0.15% higher for a 30-year fixed rate versus a purchase loan.

You can reduce your interest rate by paying your closing costs up front instead of rolling them into the loan with a no-closing-cost refinance loan. Buying discount points and avoiding mortgage insurance can also help. 

When considering a mortgage refinance, compare your current interest rate, mortgage balance and loan term with the new interest rate and term. This comparison helps you estimate your new monthly payment and savings, making it easier to determine if refinancing is the right choice.

Know When To Refinance Your Home  

There are lots of good reasons to refinance your mortgage, but for most homeowners, it comes down to lowering the interest rate, reducing monthly payments or paying off the loan more quickly. Refinancing can also allow you to tap some of your home’s equity or eliminate private mortgage insurance (PMI).

It’s important to keep in mind that refinancing carries costs, and for that reason makes more sense if you plan to stay in your home for some time. It can be helpful to calculate the “break-even point” for a potential refinance – to see how long it will take for savings from the new mortgage to outweigh closing costs. Try to find out what those fees will be and divide them by the monthly savings from the new mortgage.

Check out our mortgage refinance calculator to help you decide if this is a good time to refinance.

How To Qualify for Today’s Best Refinance Rates  

Much like when you shopped for a mortgage when purchasing your home, when you refinance here’s how you can find the lowest refinance rate:

• Maintain a good credit score 
• Consider a shorter loan term 
• Lower your debt-to-income ratio 
• Monitor mortgage rates

A solid credit score isn’t a guarantee that you’ll get your refinance approved or score the lowest rate, but it could make your path easier. Mortgage refinance lenders are also more likely to approve you if you don’t have excessive monthly debt. You also should keep an eye on mortgage rates for various loan terms. They fluctuate frequently, and loans that need to be paid off sooner tend to charge lower interest rates.

Refinance Interest Rate Trends for 2025

National average mortgage interest rates will have the most significant impact on refinancing trends throughout 2025, whether they rise or fall. 

While predicting mortgage interest rates is challenging, experts expect them to remain in the mid-to-high 6% range through the rest of 2025, with a chance that they fall further in 2026 if the Federal Reserve continues to cut its federal funds rate. 

Since experts anticipate rates remaining steady through the end of the year, homeowners waiting to refinance at a lower rate may want to hold off a while longer to secure the best rate. In the meantime, improving your credit score, making on-time payments and paying down your loan amount will put you in the best position to secure a low rate when you begin shopping for a refinance offer.

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