current refi interest rates and how to read today’s market

What “current” really means

When people ask about current refi interest rates, they’re talking about a moving target. Lenders reprice throughout the day as bond yields shift, so a quote at breakfast can differ by lunchtime. The number you see advertised typically assumes top-tier credit, ample equity, and points paid.

Key drivers you can control

Your credit score, loan-to-value ratio, and whether you choose to pay discount points have an outsized impact. A rate buydown can lower the note rate, but compare the upfront cost to your expected break-even time.

How to shop smart

Gather same-day quotes on the same loan type and term, and focus on the APR to capture fees. Ask for a written Loan Estimate before locking, and confirm the lock period covers your timeline.

• Check pricing for no-point, one-point, and lender-credit options.
• Match terms: fixed vs. ARM, 15 vs. 30 years.
• Verify costs: appraisal, title, and any prepaids.
• Run a break-even and consider tax implications.
• Revisit if rates drop enough to beat closing costs.

If rates feel high today, monitor daily trends and prepare documents so you can move fast when a dip appears.