interest rates today for refinance and how to compare them

What moves rates right now

Refi pricing shifts with fresh inflation reports, Treasury yields, and Federal Reserve guidance. Lenders also price for your file: credit score, loan-to-value, property type, and whether you pay points. A shorter term or strong equity can nudge the note rate lower, while cash-out or condos can add cost.

What a quote really includes

The headline rate is only part of the story. Look at APR, points, lender fees, and the lock period-30 to 60 days is common. Ask if a float-down is available and whether taxes and insurance are escrowed. Your breakeven depends on closing costs divided by monthly savings.

Quick ways to shop smart

Collect quotes on the same day, ideally in the morning, and request standardized Loan Estimates so you can line up apples to apples. A small rate gap-even 0.125%-can be meaningful over time.

• Check credit and clean up errors before applying.
• Decide on term length and cash-out needs.
• Compare APR, total cash to close, and breakeven months.
• Confirm rate lock, points, and any lender credits.
• Reprice before locking if markets move.