Key Takeaways
- As of Nov. 10, 2026, the average 30-year conventional refinance rate was 7.300% (7.386% APR) (Mortech national average).
- At 80% loan-to-value, Fannie Mae’s limited cash-out refinance price adjustment ranges from 0.500% of the loan for a 780+ score to 3.500% for a score of 639 or below.
- The Mortgage Reports data: the average 30-year refinance rate ranged from 6.530% to 7.643% in 2026, and 31.5% of refinance shoppers on our site reported excellent credit.
As of November 2026, your credit score can move an estimated 30-year conventional refinance rate by about three-quarters of a percentage point. Starting from the Nov. 10, 2026 average refinance rate of 7.300% (7.386% APR) and adding Fannie Mae’s limited cash-out (rate-and-term) price adjustments at 80% loan-to-value, estimated rates run from about 7.43% with a score of 780 or higher to about 8.18% at 639 or below, based on the Fannie Mae Loan-Level Price Adjustment Matrix. On a $300,000 loan that’s a payment gap of about $156 a month. These are estimates; actual rates depend on your credit, equity, property and lender.
Check your refinance options. Start hereIn this article (Skip to...)
- Estimated refinance rates by credit score (80% LTV)
- How your equity changes the price
- Why your credit score matters when you refinance
- The Mortgage Reports data: Refinance rates and borrowers’ credit in 2026
- Comparing refinance offers
- How we got these numbers
- FAQ
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Estimated refinance rates by credit score (80% LTV)
This table shows a 30-year fixed conventional rate-and-term refinance on a $300,000 loan at 80% loan-to-value (LTV), meaning you have 20% equity. Estimated rates are the Nov. 10, 2026 average plus Fannie Mae’s limited cash-out refinance LLPA for each score band.
| Credit score | LLPA at 80% LTV | LLPA in dollars | Estimated rate, as of Nov. 10, 2026 | Est. monthly P&I | Difference vs. 780+ |
| 780+ | 0.500% | $1,500 | About 7.43% | $2,082 | Baseline |
| 760 to 779 | 0.875% | $2,625 | About 7.52% | $2,101 | +$19 |
| 740 to 759 | 1.125% | $3,375 | About 7.58% | $2,114 | +$32 |
| 720 to 739 | 1.625% | $4,875 | About 7.71% | $2,140 | +$58 |
| 700 to 719 | 1.875% | $5,625 | About 7.77% | $2,153 | +$71 |
| 680 to 699 | 2.250% | $6,750 | About 7.86% | $2,173 | +$90 |
| 660 to 679 | 2.500% | $7,500 | About 7.93% | $2,186 | +$103 |
| 640 to 659 | 2.875% | $8,625 | About 8.02% | $2,205 | +$123 |
| 639 or below | 3.500% | $10,500 | About 8.18% | $2,238 | +$156 |
For reference, $300,000 at the 7.300% (7.386% APR) average with no adjustment would be about $2,057 a month. There is no daily live shortcode for refinance rates, so these figures stay dated to Nov. 10, 2026 (7.300% rate, 7.386% APR).
Compare refinance rates by credit score. Start here
How your equity changes the price
Fannie Mae’s refinance grid charges less when you have more equity. At 75% LTV (25% equity), the limited cash-out refinance LLPAs are lower in every score band:
| Credit score | LLPA at 75% LTV | LLPA at 80% LTV | Est. rate at 75% LTV |
| 780+ | 0.125% | 0.500% | About 7.33% |
| 760 to 779 | 0.375% | 0.875% | About 7.39% |
| 740 to 759 | 0.750% | 1.125% | About 7.49% |
| 720 to 739 | 1.000% | 1.625% | About 7.55% |
| 700 to 719 | 1.250% | 1.875% | About 7.61% |
| 680 to 699 | 1.625% | 2.250% | About 7.71% |
| 660 to 679 | 1.875% | 2.500% | About 7.77% |
| 640 to 659 | 2.125% | 2.875% | About 7.83% |
| 639 or below | 2.500% | 3.500% | About 7.93% |
At 60% LTV or less, the score-based LLPA for most bands is zero. Taking cash out uses a separate, higher grid; see our cash-out refinance lender rankings.
Why your credit score matters when you refinance
Loan-level price adjustments, or LLPAs, are one-time fees Fannie Mae charges lenders on the conventional loans it buys. They’re a percentage of the loan amount, or points. The Consumer Financial Protection Bureau explains that one point equals 1% of the loan amount. A lender can collect the LLPA at closing or turn it into a higher rate, and Fannie Mae says LLPAs are cumulative, so other features add to the score charge.
- A condo adds 0.750% at 80% LTV and a two- to four-unit home adds 0.625%, on top of the score charge.
- A second home or investment property adds 3.375% at 75.01% to 80% LTV.
- Fannie Mae waives all LLPAs on limited cash-out refinances that meet its Duty to Serve requirements: a principal residence with total qualifying income at or below 100% of area median income.
The same score bands apply to home purchases; see mortgage rates by credit score for the buying side, and our LLPA guide for the full list of adjustments.
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The Mortgage Reports data: Refinance rates and borrowers’ credit in 2026
The average 30-year fixed refinance rate ranged from 6.530% on March 2 to 7.643% on Oct. 11, 2026, and averaged 6.874% from Jan. 1 to Nov. 10, according to the Mortech national averages The Mortgage Reports tracks daily. Refinance shoppers reported stronger credit than home buyers: 31.5% of refinance requests through The Mortgage Reports this year came from people with self-described excellent credit, versus 15.6% of purchase requests.
| Self-reported credit | The Mortgage Reports data: rate-and-term refinance requests (2,303) | The Mortgage Reports data: purchase requests (54,285) |
| Excellent | 31.5% | 15.6% |
| Very good or good | 47.6% | 49.3% |
| Fair | 20.8% | 34.2% |
| Poor | 0.1% | 0.9% |
Source: The Mortgage Reports analysis of quote requests submitted through our online mortgage form, Jan. 1 to Nov. 9, 2026, and Mortech daily national average rates. Credit tiers are self-reported on our form (Excellent, Very good, Good, Fair or Poor; Very good and Good are counted together). These figures describe people who used our form, not all borrowers.
Comparing refinance offers
Two offers at the same rate can cost very different amounts, because one lender may charge your LLPA as points while another builds it into the rate. When you compare, look at the rate, the APR and the points or lender credits on each Loan Estimate. Whether a refinance makes sense for you depends on your current rate, your closing costs and how long you expect to keep the loan.
Our best refinance lenders rankings compare lenders on rates and fees.
How we got these numbers
We started with the Mortech national average 30-year conventional refinance rate of 7.300% (7.386% APR) for Nov. 10, 2026. We took each score band’s LLPA from the limited cash-out refinance grid (Classic FICO, terms over 15 years) in the Fannie Mae Loan-Level Price Adjustment Matrix (dated 09.30.2026), at the 75.01% to 80% and 70.01% to 75% LTV bands. We turned points into rate using a rule of thumb of about 0.25 percentage point of rate per 1 point on a 30-year loan. That conversion is our estimate; lenders price points differently. Payments are principal and interest on $300,000 over 30 years. The Mortech figure is an average, not a quote for a specific borrower, so the differences between score bands are more useful than any single rate. All results are estimates. Estimated rates are interest rates, not APRs: they don’t include lender fees, points or mortgage insurance, and they aren’t offers. Historical highs, lows and averages are interest rates, not APRs.
FAQ
Sources: Fannie Mae Loan-Level Price Adjustment Matrix; Consumer Financial Protection Bureau, lender credits and points; Mortech national average rates, Nov. 10, 2026.
