Mortgage refinance

Over 2200 Glossary Terms

Mortgage refinance

The option to pay off an old loan with a new one. This typically saves the borrowers money in terms of a lower interest rate or lower payments. The borrower may also opt to get cash out of his or her equity.

National Rates

Loan Type Today
30 yr fixed 4.93
15 yr fixed 4.38
5/1 ARM 3.79

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