Current Refinance Rates, June 10, 2021 | Rates Slide

Editorial image to accompany article on daily mortgage rates Getty Images

We want to help you make more informed decisions. Some links on this page — clearly marked — may take you to a partner website and may result in us earning a referral commission. For more information, see How We Make Money.

Today, numerous benchmark refinance rates went down.

Both 15-year fixed and 30-year fixed refinances saw their average rates decline. The average rate on 10-year fixed refinance mortgages also slumped.

Refinancing interest rates are constantly changing. However, they’re currently very low. For those looking to refinance their existing mortgage, this may possibly be the perfect time to secure a record-low rate.

Refinance rates currently are:

Compare refinance rates for a wide range of different loans here.

30-Year Fixed Refinance Rates

Right now, the average 30-year, fixed refinance has an interest rate of 3.14%, a decrease of 2 basis points from what we saw last week.

You can use our mortgage calculator to determine how much your mortgage will cost you every month and to understand what the effects of making extra payments would be. Our mortgage calculator will also show you how much interest you’ll be charged over the entire loan term.

15-Year Fixed-Rate Refinance Rates

Currently, the average rate for a 15-year fixed refinance loan is 2.40%, a decrease of 2 basis points from what we saw last week.

Monthly payments on a 15-year refinance loan can be a considerable amount more than what you’d get with a 30-year mortgage. However, a shorter loan term can help you build up equity in your home much more quickly.

10-Year Fixed-Rate Refinance Rates

The average 10-year, fixed refinance rate is 2.40%, a decrease of 3 basis points from what we saw last week.

Monthly payments with a 10-year refinance term would cost a lot more per month than you would with a 15-year term, but you’ll pay less interest in the long term.

Mortgage Refinance Rate Trends

The days of all-time historically low mortgage rates could be over. In recent weeks, mortgage rates topped 3% for the first time since July, according to Freddie Mac’s weekly survey.

But rates should still remain favorable for borrowers throughout this year. Some experts predict mortgage rates will stay low, and that toward the end of the year it’s more likely that rates will make steady gains. Where refinance rates move in the long term will depend on broad factors, such as inflation and our economic recovery.

We determine refinance rate trends using data aggregated by Bankrate, which is owned by the same parent company as NextAdvisor. Lenders from across the country supply information to Bankrate, which is provided in the table below:

Average refinance interest rates
ProductRateLast weekChange
30-year mortgage refinance rate3.14%3.16%-0.02
15-year fixed refinance rate2.40%2.42%-0.02
10-year fixed refinance rate2.40%2.43%-0.03

Rates as of June 10, 2021.

Take a look at mortgage refinance rates for a number of different loans.

Is Now Still a Good Time to Refinance?

The past year was a historically excellent time to refinance because rates had never been lower. However, since January mortgage rates have crept up and crossed the 3% threshold for the first time since last summer.

Even though the days of record breaking refinance rates are behind us, this is still an exceptional time to refinance for many homeowners. If you can lock in today’s rates that are just north of 3%, you are getting a deal with a close to all-time low rate.

So there is still time to save with a refinance, but that window is closing. Many experts are predicting rates to continue to increase as the economy returns to pre-pandemic levels over the next year.

How to Get the Best Refinance Rate

Refinance rates vary depending on your personal financial situation. Having a healthier credit score and better DTI ratios will typically be able to get better interest rates.

Your situation isn’t the only factor that impacts the interest rates you’re offered. A better loan-to-value ratio (LTV) can help you get a discounted refinance rate. So it’s better to have more equity. Having at least 20% equity in your property is ideal.

Even the mortgage itself will impact your mortgage refinance rate. A shorter-term refinance loan typically has better refinance rates than a loan with longer terms. The type of mortgage refinance you need makes a difference in the mortgage refinance rate. Cash-out refinance loans have larger mortgage refinance rates because they are viewed as riskier.