Refinance and Home Equity Rate Estimator: What Rate Could I Get?

How this estimate works

1. We start with the market. Every week, Freddie Mac surveys lenders and publishes average mortgage rates for well-qualified borrowers. That is our starting point.
2. We update it for what has happened since. Mortgage rates tend to follow the 10-year Treasury yield, which changes every day. We add most of any move since the survey.
3. We adjust for your situation. Lenders charge more for lower credit scores, smaller down payments, cash-out refinances, second homes, and investment properties. We use typical adjustments based on Fannie Mae’s published loan-level price adjustments, and approximations for some combinations.
4. We show a range. No one can know your exact rate without your application, so we show a range around our best estimate.

How home equity rates work

A HELOC has a variable rate. It is the bank prime rate, which moves with the Federal Reserve, plus a margin the lender sets from your credit score and how much of your home’s value you would owe in total. Many lenders start with a lower introductory rate for a few months, so ask what the rate becomes afterward, and about caps, floors, and fees.

A home equity loan has a fixed rate. It is priced above first mortgage rates, because the lender is paid second if the home is ever sold in foreclosure. The premium grows as your credit score falls and as your combined loan-to-value rises. Many lenders look for a credit score of about 650 or higher.

Unlike first mortgages, there is no published price grid for second mortgages, so these estimates use typical market spreads and a wider range.

What this estimate leaves out

• Discount points, lender credits, and fees, which change the rate you are offered.
• Your rate lock and the day you lock. Rates can move during the day.
• FHA, VA, USDA, jumbo, and adjustable-rate loans, which are priced differently.
• Mortgage insurance, which adds to your monthly payment but is not part of the rate.
• Differences between lenders. Two lenders can quote different rates for the same borrower on the same day.

How to find your real rate

The only way to know is to ask lenders. Get quotes from two or three of them, ideally within the same few days, and compare their Loan Estimates, not just the rates.

Common questions about refinance and home equity rates

What are refinance rates today?

A standard refinance with no cash out is usually priced close to a purchase loan, and a cash-out refinance is usually priced higher. The most widely cited benchmark is Freddie Mac’s weekly average for a 30-year fixed-rate mortgage. The latest number is shown at the top of this page. Use the estimator above for your own credit score and loan.

What are HELOC rates today?

HELOC rates are variable. They are based on the bank prime rate plus a margin that the lender sets from your credit score and how much you owe against your home. The latest prime rate is shown at the top of this page. Many lenders also offer a lower introductory rate for a few months.

What are home equity loan rates today?

A home equity loan is a second mortgage with a fixed rate. It is usually priced above first mortgage rates, because the lender is paid second if the home is ever sold in foreclosure. The premium grows as your credit score falls and as the total you owe against your home rises.

What are discount points on a refinance?

Discount points are a fee you pay at closing to lower your interest rate. One point costs 1% of the loan and usually lowers the rate by about 0.25%, though it varies by lender. You can try the points option for a refinance in the estimator or the discount points calculator, and read what discount points are and how they work.

Is a cash-out refinance rate higher than a regular refinance?

Usually, yes. Cash-out refinances generally carry higher price adjustments than purchases or standard refinances, and lenders pass that along in the rate. The adjustment is larger when your credit score is lower or you borrow a larger share of your home’s value.

What credit score do I need for a HELOC or home equity loan?

Many lenders look for a score of about 650 or higher, and the best rates generally go to scores in the 700s. A cash-out refinance is often more available at lower credit scores.

What affects refinance and HELOC rates?

Refinance and home equity loan rates follow the 10-year Treasury yield and the mortgage bond market, which move with inflation, the economy, and world events. HELOC rates follow the prime rate, which moves with the Federal Reserve. Your credit score, combined loan-to-value, loan amount, and each lender’s own guidelines also matter.

How accurate is this refinance and HELOC rate estimator?

It is for estimation only. It uses current market averages and typical lender adjustments, but it cannot account for world events, your full application, or each lender’s own guidelines and pricing. For a real rate, get quotes from two or three lenders.

Sources: Freddie Mac, Primary Mortgage Market Survey® (30-Year and 15-Year Fixed Rate Mortgage Averages), and the Board of Governors of the Federal Reserve System, 10-Year Treasury Constant Maturity Rate and Bank Prime Loan Rate, retrieved from FRED®, Federal Reserve Bank of St. Louis. When the U.S. Department of the Treasury has posted a newer day’s 10-year rate (Daily Treasury Par Yield Curve Rates), that rate is used. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis. Primary Mortgage Market Survey is a registered trademark of Freddie Mac. Fannie Mae loan-level price adjustments are published by Fannie Mae. Conforming loan limits are from the Federal Housing Finance Agency (2026).