Know when your mortgage may be worth refinancing.
Enter your current mortgage details and Mortgage Rate Watch will estimate whether refinancing may be worth reviewing based on rate improvement, estimated monthly savings, closing costs, break-even timing, equity, credit range, and refinance goal.
Educational estimate only. Not a loan approval, prequalification, preapproval, or commitment to lend.
From your numbers to a clear signal in four steps
Enter your current rate, balance, monthly payment, estimated home value, credit range, and refinance goal.
Mortgage Rate Watch uses the Freddie Mac PMMS market benchmark to estimate whether your current mortgage may be above, near, or below current market conditions.
The calculator estimates potential principal-and-interest payment savings, annual savings, closing costs, loan-to-value, and break-even timing.
Your result is simplified into one of four signals: Wait, Getting Close, Review Now, or Strong Opportunity.
What is the Freddie Mac PMMS benchmark?
Freddie Mac’s Primary Mortgage Market Survey is a widely used weekly mortgage-rate benchmark that reports average 30-year fixed-rate and 15-year fixed-rate mortgage rates. Mortgage Rate Watch uses PMMS as a market reference point for educational refinance estimates.
The PMMS benchmark is not a personalized rate quote. Your actual refinance rate, payment, fees, and eligibility may vary based on lender review, credit profile, income, property value, occupancy, loan type, loan-to-value, debt-to-income ratio, points, fees, and other factors.
Benchmark rates refresh automatically every Thursday at 11am PT, after Freddie Mac publishes the latest PMMS data.
Your Mortgage Rate Watch signal
Mortgage Rate Watch is designed to simplify refinance timing. Instead of asking you to interpret rates, fees, equity, and break-even math on your own, the calculator translates your mortgage profile into a simple signal.
Refinancing may not pencil yet. Estimated savings, rate improvement, or break-even timing may not be strong enough right now.
Your mortgage may be moving toward a refinance opportunity, but the estimated savings or break-even period may not be compelling enough yet.
Current conditions may justify reviewing refinance options. Estimated savings, rate improvement, and break-even timing may be worth comparing.
Your profile appears to show a stronger potential refinance opportunity based on estimated savings, rate difference, and break-even timing.
Your Refi Fit Score
Your Refi Fit Score is a simplified estimate of how closely your current mortgage may match a potential refinance opportunity.
Your Refi Fit Score is an estimate for informational purposes only and is not a loan approval, underwriting decision, prequalification, preapproval, or commitment to lend.
- Estimated monthly savings30%
- Break-even period25%
- Rate improvement vs current loan20%
- Estimated LTV / equity position10%
- Credit & borrower profile fit10%
- Loan type & refinance goal5%
Check your mortgage in a few quick steps
No mortgage statement upload required. Educational estimate only.
Mortgage Rate Watch provides estimates for informational and educational purposes only. Results are based on information you provide, Freddie Mac PMMS benchmark assumptions, third-party data where available, and refinance logic. MortgageOptions.org is not making a loan approval decision, underwriting determination, prequalification, preapproval, or commitment to lend. The Freddie Mac PMMS benchmark is not a personalized rate quote or loan offer. Actual rates, payments, fees, cash to close, savings, and eligibility may vary based on lender review, credit profile, income, property value, occupancy, loan type, debt-to-income ratio, points, fees, and other factors. Refinancing may involve closing costs and may not be appropriate for every homeowner.
Freddie Mac PMMS is a weekly market benchmark and may not reflect rates available to every borrower, loan type, property type, state, credit profile, occupancy type, or lender.