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Refinance Rates Hit 6.28%: Homeowners Weigh Options

12/3/2025

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Summary

Story summary

As of December 2025, average refinance rates are 6.28% for 30-year conventional loans, 6.19% for 20-year loans, and 5.80% for FHA loans.
Homeowners should refinance only if they can secure a rate at least one percentage point lower than their current loan.
Options include rate-and-term, cash-out, and streamline refinances for FHA, VA, and USDA loans.
Closing costs typically range from 2% to 6% of the loan amount.

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Story summary

As of December 2025, average refinance rates are 6.28% for 30-year conventional loans, 6.19% for 20-year loans, and 5.80% for FHA loans.
Homeowners should refinance only if they can secure a rate at least one percentage point lower than their current loan.
Options include rate-and-term, cash-out, and streamline refinances for FHA, VA, and USDA loans.
Closing costs typically range from 2% to 6% of the loan amount.