Today’s Mortgage Refinance Rates: November 14, 2025 – Rates Climb

The rate on a 30-year fixed refinance increased to 6.41% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.4%. On a 20-year mortgage refinance, the average rate is 6.11%. 

Related: Compare Current Refinance Rates

30-Year Fixed Refinance Interest Rates Climb 0.38%

Currently, the average rate for a 30-year, fixed-rate mortgage refinance is 6.41%, up 0.38% from a week ago. Borrowers with a 30-year, fixed-rate mortgage of $100,000 will pay $626 per month for principal and interest at the current interest rate, according to the Forbes Advisor mortgage calculator, not including taxes and fees. Over the life of the loan, the borrower will pay total interest costs of about $125,913. 

Another way of looking at loan costs is the annual percentage rate, or APR. For a 30-year, fixed-rate mortgage, the APR is 6.43%, higher than last week’s 6.41%. The APR is essentially the all-in cost of the home loan.

20-Year Refi Rates Climb 0.84%

The average interest rate on the 20-year fixed refinance mortgage is 6.11%. A week ago, the 20-year fixed-rate mortgage was at 6.06%.

The APR on a 20-year fixed is 6.14%, compared to 6.09% last week. 

A 20-year fixed-rate mortgage refinance of $100,000 with today’s interest rate would cost $723 per month in principal and interest. Taxes and fees are not included. Over the life of the loan, you would pay around $73,901 in total interest.

15-Year Fixed Refinance Rates Climb 0.15%

The 15-year fixed mortgage refinance is currently averaging about 5.4%, unchanged from a week ago.

The APR, or annual percentage rate, on a 15-year fixed mortgage stands at 5.44%. 

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 $46,531 in total interest over the 15-year life of the loan.

30-Year Jumbo Refinance Interest Rates Drop 0.41%

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) decreased week-over-week to 6.73%, versus 6.76% last week.

At today’s interest rate on a 30-year, fixed-rate jumbo mortgage refinance, a borrower would pay $647 per month in principal and interest on a $100,000 loan.

15-Year Jumbo Refinance Rates Drop 0.84%

The average interest rate on the 15-year fixed-rate jumbo mortgage refinance declined to 6.03%, down 0.84% from last week.

Borrowers with a 15-year fixed-rate jumbo mortgage refinance with today’s interest rate will pay $845 per month in principal and interest per $100,000 borrowed. They will pay about $52,420 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.

When Refinancing Makes Sense 

You may want to refinance your home when you can lower your interest rate, reduce monthly payments or pay off your mortgage sooner. You may want to use a cash-out finance to access your home’s equity or take out a new loan to eliminate private mortgage insurance (PMI). 

A home loan refinance may make sense particularly if you plan to remain in your home for a while. Even if you score a lower interest rate, you need to take the loan costs into consideration. Calculate the break-even point where your savings from a lower interest rate exceed your closing costs by dividing your closing costs by the monthly savings from your new payment. 

Our mortgage refinance calculator could help you determine if refinancing is right for you.

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.

Mortgage Refinance 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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