Rate and term refinance
Rate and term refinance
Rate and term refinance is the restructure of a mortgage loan that involves changing the interest rate and maturity length of the loan. The loan amount doesn't change with a rate and term refinance. These mortgage loans are often less expensive than cash-out refinances, which are made in amounts larger than the original mortgages.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed |
4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
