Is now a good time to refinance?
See your break-even point against today's live 30-year average rate, not a stale estimate.
Industry rule of thumb is 2–5% of your loan balance. Edit if you have a real quote.
How this works
We compare your real P&I, not a rule of thumb
Your current payment is re-computed from your actual balance, rate, and remaining term, then compared to what you'd pay at today's live rate over that same remaining term.
Break-even = closing costs ÷ monthly savings
If refinancing lowers your payment, we divide your estimated closing costs by that monthly savings to find how many months it takes to come out ahead.
The rate updates daily, straight from the lock data
Rates come from the same Optimal Blue daily national index that CasaCrow uses to power in-app refinance alerts, not a stale, hardcoded number.
Estimates only, not financial or legal advice. Verify with your lender.
Common questions
The 30-year average rate comes from the Optimal Blue Mortgage Market Indices (OBMMI), computed from actual locked rates and published every business day via the Federal Reserve's FRED service, the same public data source CasaCrow uses elsewhere. It's a national average, so your actual quoted rate may differ based on your credit, loan amount, and lender.
No. It ignores how long you plan to stay in the home, your balance, and your real closing costs. A 0.5% drop can make excellent sense if you're staying long-term; a 1.5% drop can still be a bad deal if you're selling in two years. The break-even calculation is the only reliable test.
Re-amortizing over your remaining term isolates the effect of the rate change itself, rather than mixing in savings that really come from stretching your payoff back out. That keeps the comparison honest.
Industry rule of thumb is 2–5% of your loan balance. If you've gotten a real Loan Estimate from a lender, enter that exact dollar figure divided by your balance for a more precise break-even.
Your loan numbers never leave your browser. Only the live market rate is fetched from CasaCrow's public rate endpoint, which doesn't receive any of your personal loan details.
Stop checking this by hand
Run your free mortgage health check once, and CasaCrow keeps watching — PMI eligibility, escrow drift, and today's rates — then tells you the day it's worth acting.