Is now a good time to refinance?
See your break-even point against the latest 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.
Estimates only, not financial or legal advice. Verify with your lender.
How this works
We compare your real P&I, not a rule of thumb
We work out your current payment from your balance, rate and years left. Then we compare it with the payment at the latest average rate, over the same years.
Break-even: when the savings have paid the fees
Does a new loan cut your bill? Then we count each month of savings in today's dollars, discounted at 4% a year, and find the month they have added up to your fees. That is an estimate of how long until you are ahead.
The rate is checked daily, from real lock data
It is the same index our Pro rate alerts use. It averages rates locked across the U.S. on a recent business day. No one types it in by hand.
Common questions
The 30 year rate comes from a market index built on real locked rates. It is put out each work day by 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 sense if you stay long-term. A 1.5% drop can still cost more than it saves if you sell in two years. Working out the break-even point is a better test.
We rebuild the plan over the years you have left. That shows what the rate change alone does. It keeps out the fake saving you get from just starting over. That way the two can be judged fairly.
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 latest average 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 health check once, and your numbers stay saved. With Pro, we check your PMI and the latest average rates every day. We email you when something may be worth a look.