Mortgage Refinance Rates Today: September 22, 2025 – No Movement On Rates

30-year fixed refinance mortgage rates stayed flat at 6.4% today, according to the Mortgage Research Center. The 15-year, fixed-rate refinance mortgage average rate is 5.35%. For 20-year mortgage refinances, the average rate is 6.02%.

Related: Compare Current Refinance Rates

30-Year Refinance Rates Climb 0.87%

The average rate for a 30-year fixed-rate mortgage refinance is 6.4%, up 0.87% from last week.

The APR, or annual percentage rate, on a 30-year fixed is 6.43%. This time last week, it was 6.37%. The APR is the all-in cost of your loan.

At the current interest rate of 6.4%, a 30-year fixed mortgage refi would cost $625 per month in principal and interest (not accounting for taxes and fees) per $100,000, according to the Forbes Advisor mortgage calculator. The total interest paid over the life of the loan would be approximately $125,772.

20-Year Refinance Rates Climb 1.67%

The 20-year fixed mortgage refinance average rate stands at 6.02%, versus 5.92% last week.

The APR, or annual percentage rate, on a 20-year fixed mortgage is 6.06%. It was 5.96% last week.

At the current interest rate, a 20-year, fixed-rate mortgage refinance of $100,000 would cost $718 per month in principal and interest. That doesn’t include taxes and fees. That borrower would pay roughly $72,747 in total interest over the life of the loan.

15-Year Mortgage Refinance Rates Climb 2.16%

The average interest rate on the 15-year fixed refinance mortgage is 5.35%. A week ago, the 15-year fixed-rate mortgage was at 5.23%.

On a 15-year fixed refinance, the annual percentage rate is 5.39%. Last week, it was 5.28%.

A 15-year fixed-rate mortgage refinance of $100,000 at today’s interest rate would cost $809 per month in principal and interest. Over the life of the loan, you would pay $46,026 in total interest.

30-Year Jumbo Refinance Rates Climb 1.16%

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) increased week-over-week to 6.79%, versus 6.71% last week.

At today’s interest rate on a 30-year, fixed-rate jumbo mortgage refinance, a borrower would pay $651 per month in principal and interest on a $100,000 loan.

15-Year Jumbo Refi Rates Climb 0.91%

A 15-year, fixed-rate jumbo mortgage refinance is 5.9% on average, up 0.91% from last week.

At today’s interest rate, a borrower with a 15-year, fixed-rate jumbo refinance would pay $838 per month in principal and interest per $100,000 borrowed. Over the life of the loan, that borrower would pay around $51,185 in total interest.

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

Just like when you took out your original mortgage, it pays to have a strategy for finding the lowest rate when you want to refinance. Here’s what you should be doing to get a good mortgage rate:

• Improve your credit
• Consider a shorter loan term
• Lower your debt-to-income ratio
• Watch mortgage rates

There are no guarantees when it comes to borrowing, but a strong credit score is one of the best things you can do to present yourself to lenders. Banks and other mortgage refinance lenders are more likely to approve you if you don’t have too much debt relative to your income. You should check in on mortgage rates, which fluctuate frequently, on a regular basis. And use calculators like ours to see if you can swing a home loan that’s shorter in duration than the popular 30-year mortgage. These loans usually have lower interest rates.

Refinance Rate Trends for 2025

National average mortgage rates have remained in the middle-to-high 6% range since the final quarter of 2024, and experts expect this trend to continue throughout the first half of 2025.

Although forecasting mortgage interest rates is challenging, economic indicators like inflation and unemployment rates can provide insights into the direction of the housing market. For example, if inflation slows and national unemployment levels remain stable or rise, the Federal Reserve may cut the federal funds rate, which could lead to lower mortgage rates. On the other hand, if inflation stays high and unemployment decreases, rates are likely to remain steady.

Since mortgage rates are expected to experience minimal movement in the first half of the year, those looking to refinance at a lower rate should consider waiting until later in the year. In the meantime, improving your credit score and making on-time payments will allow you to secure the best possible rate when you begin shopping for refinance offers.

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