Fortune said it reviewed Zillow data available as of April 29, while other refinance terms and loan types were also listed for homeowners considering a refi.
The report said refinancing can lower borrowing costs, tap home equity or change loan terms, but typically brings closing costs of 2% to 6% and requires lender approval.
Mortgage rates remain well above pandemic-era lows, contributing to a lock-in effect for many owners, after easing in late 2025 before rising again in March 2026.
As homeowners with ultra-low rates finally begin to sell, will the housing market see some relief?
With insurance costs now rivaling mortgage payments, is the era of predictable homeownership over?
Are Middle East conflicts now a bigger threat to your mortgage rate than the Federal Reserve's decisions?