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Updated: May 10, 2021 5:55 PM ET | Originally published: May 5, 2021

With mortgage rates still low, millions of people have already refinanced their mortgages and millions more could save by doing so.

Interest rates are still low, but projected to slowly increase, and mortgage refinance applications are on the rise, with homeowners eager to take advantage of the best rates available. Now is a great time to shop around for a low rate and lock in your savings.

To help you start the process of refinancing and see how much you can save on your monthly mortgage payment, we selected a list of top picks for the best mortgage refinance lenders.

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Average Mortgage Refinance Rates
Data based on US mortgage loans closed on May 14, 2021
Loan TypeMay 14Last WeekChange
15 Year Fixed Conventional2.48%2.44%0.04%
30 Year Fixed Conventional3.35%3.3%0.05%
7/1 ARM Rate4.14%4.17%0.03%
10/1 ARM Rate4.02%3.95%0.07%
Your actual rate may vary
Find your actual rate at a top ranked lender in your area.

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View Rates for May 15, 2021