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Mortgage Refinance Calculator
Determine if refinancing saves money and calculate your break-even point.
About This Calculator
The 2020–2021 refinance boom saw $4.5 trillion in mortgage originations — the largest two-year total in history — as rates fell below 3%. Now with 7%+ rates, the "rate lock-in" effect has frozen existing homeowners in place. A general rule: refinancing saves money when you can drop the rate by at least 0.75–1%.