en
Refinance rates
/ˌriːfaɪˈnæns reɪts/
Definition
1
The interest rates offered by lenders for refinancing an existing loan, such as a mortgage, allowing borrowers to replace their current loan with a new one often at better terms.
2
Market rates prevailing for the process of obtaining a new loan to pay off an old one, typically to secure lower payments, shorter terms, or cash-out options.
Examples
Refinance rates are so low right now, even my couch potato finances are sprinting to the bank.
She stalked refinance rates like a hawk, pouncing the moment they dipped below four percent.
With refinance rates tanking, he swapped his mortgage faster than a politician flips on a promise.
Refinance rates finally smiled on us, turning our debt mountain into a manageable molehill.