Connecticut Refinance Rates Today for October 2026
Brian McKay
Brian McKay
Founder & Data Architect- Automated Online Rate Data Aggregation
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Current Connecticut refinance rates today start at 6.625% for a 30 year fixed and 5.875% for a 15 year fixed, compared with Connecticut averages of 7.246% and 6.80%. Connecticut mortgage refinance rates range from 4.29% to 8.00%, verified by MonitorBankRates as of October 30, 2026. Current mortgage refinance rates in Connecticut include Milford BankMilford Bank142 Temple Street Suite 306, Milford, CT, 06460A+5.0 ★Texas Ratio: 4.41%Rate verified Oct 26, 2026 at 6.75%, Selfreliance Federal Credit UnionSelfreliance Federal Credit Union21 Silas Deane Hwy, Cromwell, CT, 06053A+5.0 ★Texas Ratio: 4.49%Rate verified Oct 28, 2026 at 6.875%, ives Bankives Bank100 State Route 37, Bethel, CT, 06470A5.0 ★Texas Ratio: 8.25%Rate verified Oct 27, 2026 at 6.875%, M&T BankM&T Bank1 Center St, Ansonia, CT, 06001A+5.0 ★Texas Ratio: 4.11%Rate verified Oct 26, 2026 at 6.875%, and Finex Credit UnionFinex Credit Union159 S Turnpike Rd, East Hartford, CT, 06040 4618A+5.0 ★Texas Ratio: 5.15%Rate verified Oct 30, 2026 at 6.875%. Refinance rates as of October 30, 2026 according to verified data from MonitorBankRates.
Use the tabs below to compare refinance rates across all loan types in Connecticut side-by-side. Connecticut refinance rates currently start as low as 6.625% from Milford Bank at 142 Temple Street Suite 306, Milford, CT, 06460. Rates are continually updated, so we recommend checking back frequently.
Refinance rates reflect actual verified offers from lenders actively lending to Connecticut homeowners. Your final approved rate will depend on your credit profile, loan-to-value ratio, cash-out amount, and daily market movements. Last Updated and Verified: October 30, 2026
Compare Refinance Rates Today in Connecticut
Rates shown are each lender’s posted rate for that loan type, which most lenders apply to purchase and refinance loans alike. Local Connecticut lenders are listed first in every tab. Among lenders that post both, refinance pricing currently runs about 0.189 points above the same lender’s purchase rate nationally. That premium is shown for context only; every rate in the table is the lender’s posted rate.
Connecticut 30 Year Fixed Refinance Rates
Milford, Stratford, West Haven and Orange Only; Payment Example: 360 principal and interest payments at $6.49
Savings comparison widget; savings example based on $250,000 loan at 6.875% for 30 years, excellent credit
No additional details available.
Down Payment: 20%
- Oct 22, 20266.93%▲ from 6.68%
- Oct 14, 20266.68%first recorded
Jumbo table (data-ratetype); purchase of existing single family primary residence; loan amount $1,000,000; estimated property value $1,250,000; property in NY, Erie county; escrow required; 60-day rate lock; assumed credit score 740
Half-point (50 bps) discount off published 30 year rate on purchase or refinance; rates as of October 27, 2026; fixed rates based on $250,000 loan with 20% down
- Oct 26, 20267.00%▼ from 7.25%
- Oct 22, 20267.25%first recorded
Terms and Conditions
- Oct 26, 20267.03%▼ from 7.15%
- Oct 20, 20267.15%first recorded
No additional details available.
As Low As; Loan Amount: $301-325K; Down payments as low as 3%; First time homebuyer program offers up to $1000 closing cost credit
- Oct 26, 20267.09%▼ from 7.33%
- Oct 2, 20267.33%▲ from 7.08%
- Sep 24, 20267.08%first recorded
No additional details available.
Rate / APR assume 20% down payment, purchase transaction, owner occupied, single family detached home, FICO score of 740 and no subordinate financing; Maximum Loan Amount $832,750
- Oct 26, 20267.13%▼ from 7.25%
- Oct 20, 20267.25%first recorded
As Low As; Advertised APR assumes approx. 2.000 points due at closing; Purchase loan $225,000; estimated property value $375,000; property in NY (Erie county); existing single family home; primary residence; escrow (impound) account required; 60-day rate lock; assumed credit score 740
As Low As; Loan Amount: $451K+; Down payments as low as 3%; First time homebuyer program offers up to $1000 closing cost credit
- Oct 26, 20267.21%▼ from 7.33%
- Oct 2, 20267.33%▲ from 7.08%
- Sep 24, 20267.08%first recorded
Effective Date: October 16, 2026; Residential Mortgage Loans up to $832,750 (conforming loan amount); Advertised rates include a discount for automatic payments from a First County Bank checking account
- Oct 21, 20267.26%▲ from 6.88%
- Sep 15, 20266.88%first recorded
No additional details available.
As Low As; Purchase loan, $225,000 loan amount, $375,000 property value, NY (Erie county), primary residence, escrow required, 60-day rate lock, 740 credit score assumed
As Low As; Rates as low as 6.875%; loan amount $225,000; estimated property value $375,000; purchase; NY (Erie county); existing single family primary residence; escrow required; 60 day rate lock; assumed credit score 740
Purchase loan, existing single family primary residence, $300,000 loan amount, 780+ credit score, 60-day rate lock; requires Newtown Savings Bank checking with auto deduction payment; Monthly Principal & Interest Payment $2,046.53
Rates effective as of 10/26/2026; APR based on $240,000 loan, 25% down, 780 minimum credit score
- Oct 26, 20267.33%▼ from 7.45%
- Oct 21, 20267.45%▼ from 7.58%
- Oct 1, 20267.58%▲ from 7.45%
- Sep 27, 20267.45%▲ from 7.20%
$750,000; Rates current as of 10/21/2026
As Low As; 60 Day Lock; Fixed; Minimum loan amount $40,000; Maximum loan amount $832,750
- Oct 23, 20267.36%▲ from 6.86%
- Oct 15, 20266.86%first recorded
No additional details available.
Under $750,000; Rates current as of 10/21/2026
Conforming Loans; Loan amounts up to $832,750; Effective: 10/29/2026
- Oct 26, 20267.41%▲ from 7.28%
- Oct 19, 20267.28%first recorded
Advertised rates assume credit score 740; available in CT, MA, NY and RI; ALPA discount of 0.125% available
- Oct 26, 20267.42%▼ from 7.54%
- Oct 22, 20267.54%first recorded
Effective 10/26/2026; Rate assumes purchase of primary residence, single-family property; advertised rates assume credit score of 740; rates discounted 0.125% with Automatic Loan Payment Agreement (ALPA)
- Oct 26, 20267.42%▼ from 7.54%
- Oct 22, 20267.54%first recorded
Mortgage refinance; conforming; rates include 0.125% autopay and paperless discount; based on $300,000 loan
Conforming Loans; HomeReady product, subject to income and underwriting eligibility (Fannie Mae); Loan amounts up to $832,750; Effective: 10/29/2026
- Oct 26, 20267.53%▲ from 7.41%
- Oct 19, 20267.41%first recorded
FHA; total loan amount $305,250 including 1.75% Upfront Mortgage Insurance Premium on $300,000 base loan; annual mortgage insurance required for 11 years; Monthly Principal & Interest Payment $2,056.53 (excludes mortgage insurance)
Connecticut 15 Year Fixed Refinance Rates
Terms and Conditions
As Low As; Loan Amount: Any; Down payments as low as 3%; First time homebuyer program offers up to $1000 closing cost credit
- Oct 26, 20266.39%▼ from 6.77%
- Oct 2, 20266.77%▲ from 6.39%
- Sep 24, 20266.39%first recorded
No additional details available.
Rate / APR assume 20% down payment, purchase transaction, owner occupied, single family detached home, FICO score of 740 and no subordinate financing; Maximum Loan Amount $832,750
- Oct 26, 20266.57%▼ from 6.70%
- Oct 20, 20266.70%first recorded
Down Payment: 20%
- Oct 22, 20266.58%▲ from 6.33%
- Oct 14, 20266.33%first recorded
No additional details available.
No additional details available.
No additional details available.
Home Equity; Effective Date: October 1, 2026
Rates as of October 27, 2026; fixed rates based on $250,000 loan with 20% down
- Oct 30, 20266.70%▲ from 6.58%
- Oct 26, 20266.58%▼ from 6.83%
- Oct 22, 20266.83%first recorded
Purchase loan, existing single family primary residence, $300,000 loan amount, 780+ credit score, 60-day rate lock; requires Newtown Savings Bank checking with auto deduction payment; Monthly Principal & Interest Payment $2,633.98
Conforming Loans; Loan amounts up to $832,750; Effective: 10/29/2026
- Oct 30, 20266.80%▼ from 6.93%
- Oct 26, 20266.93%▲ from 6.68%
- Oct 19, 20266.68%first recorded
Advertised rates assume credit score 740; available in CT, MA, NY and RI; ALPA discount of 0.125% available
Effective 10/26/2026; Rate assumes purchase of primary residence, single-family property; advertised rates assume credit score of 740; rates discounted 0.125% with Automatic Loan Payment Agreement (ALPA)
Effective Date: October 16, 2026; Residential Mortgage Loans up to $832,750 (conforming loan amount); Advertised rates include a discount for automatic payments from a First County Bank checking account
- Oct 21, 20266.85%▲ from 6.47%
- Sep 15, 20266.47%first recorded
$750,000; Rates current as of 10/21/2026
Mortgage refinance; conforming; rates include 0.125% autopay and paperless discount; based on $300,000 loan
As Low As; 60 Day Lock; Fixed; Minimum loan amount $40,000; Maximum loan amount $832,750
- Oct 23, 20266.93%▲ from 6.43%
- Oct 15, 20266.43%first recorded
No additional details available.
Under $750,000; Rates current as of 10/21/2026
Jumbo table (data-ratetype); purchase of existing single family primary residence; loan amount $1,000,000; estimated property value $1,250,000; property in NY, Erie county; escrow required; 60-day rate lock; assumed credit score 740
As Low As; Advertised APR assumes approx. 2.000 points due at closing; Purchase loan $225,000; estimated property value $375,000; property in NY (Erie county); existing single family home; primary residence; escrow (impound) account required; 60-day rate lock; assumed credit score 740
Rates effective as of 10/26/2026; APR based on $240,000 loan, 25% down, 780 minimum credit score
- Oct 7, 20267.12%▲ from 6.87%
- Oct 1, 20266.87%▲ from 6.75%
- Sep 27, 20266.75%▲ from 6.49%
- Sep 15, 20266.49%first recorded
Published rate range: 7.125%-8.125%. Zero Points; APR based on lowest rate
- Oct 15, 20267.16%▲ from 6.92%
- Oct 13, 20266.92%first recorded
As Low As; Purchase loan, $225,000 loan amount, $375,000 property value, NY (Erie county), primary residence, escrow required, 60-day rate lock, 740 credit score assumed
As Low As; Rates as low as 6.500%; loan amount $225,000; estimated property value $375,000; purchase; NY (Erie county); existing single family primary residence; escrow required; 60 day rate lock; assumed credit score 740
No additional details available.
- Oct 28, 20267.42%▲ from 7.12%
- Sep 16, 20267.12%first recorded
No additional details available.
- Oct 28, 20267.64%▲ from 7.33%
- Sep 16, 20267.33%first recorded
Home Equity; Effective Date: October 1, 2026
Connecticut 5/1 ARM Refinance Rates
As Low As; Margin: 2.750%; Review cap: 2% every five years after the fixed period. Lifetime cap: 6%.
- Oct 7, 20266.39%▲ from 5.87%
- Sep 15, 20265.87%first recorded
Terms and Conditions; Effective Date: October 26, 2026
No additional details available.
As Low As; 5/6 ARM is a variable rate loan; APR assumes 20% down, 30 day rate lock, $200,000.00 loan amount
ARM 5/6 0PT; Payment per $10,000: 60 @ $62.39 and 300 @ $64.58
Terms and Conditions; Effective Date: October 26, 2026
Fixed for first 5 years, then adjusts annually; Caps: 2/6; Margin: 2.750%
Fully Indexed Rate: 6.875%
Conform / Jumbo: Up to $806,500; No points; No prepayment penalty
- Oct 5, 20266.86%▲ from 6.74%
- Sep 14, 20266.74%first recorded
$750,000; Adjustable-Rate Mortgage; Payment Period: 30 Years (cell blank); Loan Amount: $750,000 & Over; Rates adjust after the 5th year; Rate includes 0.25% autopay discount
Under $750,000; Adjustable-Rate Mortgage; Payment Period: 30 Years (cell blank); Loan Amount: Under $750,000; Rates adjust after the 5th year; Rate includes 0.25% autopay discount
Conform / Jumbo: Over $806,500; No points; No prepayment penalty
- Oct 5, 20267.06%▲ from 6.74%
- Sep 14, 20266.74%first recorded
30 Year Amortization; Fully Indexed Rate: 7.125%; Remaining Term: 25 YRS; Payment Example: 60 monthly payments at $6.08 and 300 monthly payments at $6.74
Purpose: Purchase or Refinance; Fully Indexed Rate: 7.500%
Connecticut 30-Year Jumbo Refinance Rates
Effective: 10/29/2026; Loan amounts from $832,751 - $2,000,000; Minimum loan amount listed is for single family home or condo
- Oct 30, 20266.51%▼ from 6.64%
- Oct 19, 20266.64%▲ from 6.26%
- Sep 22, 20266.26%first recorded
Effective date 10/26/2026; Jumbo fixed rate; assumes loan amount of $832,751 or greater
Minimum Loan Amount: $832,751; Purchase or Refinance
Caps: 5% initial, 1% every six months, 5% lifetime; Connecticut, Massachusetts, New Hampshire, and Rhode Island properties
- Oct 26, 20266.70%▼ from 6.79%
- Oct 14, 20266.79%▼ from 6.83%
- Oct 7, 20266.83%first recorded
Caps: 5% initial, 1% every six months, 5% lifetime; Connecticut, Massachusetts, New Hampshire, and Rhode Island properties
- Oct 20, 20266.71%▼ from 6.78%
- Oct 14, 20266.78%▼ from 6.78%
- Oct 7, 20266.78%first recorded
Caps: 5% initial, 1% every six months, 5% lifetime; Connecticut, Massachusetts, New Hampshire, and Rhode Island properties
- Oct 26, 20266.74%▼ from 6.81%
- Oct 14, 20266.81%▼ from 6.82%
- Oct 7, 20266.82%first recorded
Effective: 10/29/2026; Loan amounts from $832,751 - $2,000,000; Minimum loan amount listed is for single family home or condo
- Oct 30, 20266.76%▼ from 7.01%
- Oct 19, 20267.01%▲ from 6.76%
- Sep 22, 20266.76%first recorded
Caps: 5% initial, 1% every six months, 5% lifetime; Connecticut, Massachusetts, New Hampshire, and Rhode Island properties
- Oct 26, 20266.77%▼ from 6.86%
- Oct 20, 20266.86%▼ from 6.94%
- Oct 14, 20266.94%▼ from 6.99%
- Oct 7, 20266.99%first recorded
As Low As; Adjustable-rate mortgage loans; Rates as of Oct 19, 2026 ET
- Oct 20, 20266.83%▼ from 6.87%
- Oct 6, 20266.87%▲ from 6.77%
- Sep 30, 20266.77%first recorded
Effective: 10/29/2026; Loan amounts from $832,751 - $2,000,000; Minimum loan amount listed is for single family home or condo
- Oct 30, 20266.89%▼ from 7.14%
- Oct 19, 20267.14%▲ from 6.89%
- Sep 22, 20266.89%first recorded
No additional details available.
Minimum Loan Amount: $832,751; Purchase or Refinance
Minimum Loan Amount: $832,751; Purchase or Refinance
Loan amounts greater than $832,750; Maximum loan-to-value of 80% on 1 to 4 family owner-occupied residential property; Interest Rate and APR effective as of October 26, 2026
Loan amounts greater than $832,750; Maximum loan-to-value of 80% on 1 to 4 family owner-occupied residential property; Interest Rate and APR effective as of October 26, 2026
Loan amounts greater than $832,750; Maximum loan-to-value of 80% on 1 to 4 family owner-occupied residential property; Interest Rate and APR effective as of October 26, 2026
Rates as of Thursday, October 22, 2026; Fully Indexed Rate: N/A
Maximum loan-to-value of 80% on 1 to 2 family owner-occupied residential property; for loan amounts greater than $832,750; APR effective as of October 26, 2026
- Oct 27, 20268.01%▼ from 8.14%
- Oct 22, 20268.14%first recorded
Maximum loan-to-value of 80% on 1 to 2 family owner-occupied residential property; for loan amounts greater than $832,750; APR effective as of October 26, 2026
Rates as of Thursday, October 22, 2026; Fully Indexed Rate: N/A
As Low As; Exclusive for Servicemembers, Reservists and Veterans who have exhausted their VA loan benefit; no down payment required; Rates as of Oct 26, 2026 ET
- Oct 26, 20268.22%▼ from 8.35%
- Oct 20, 20268.35%first recorded
Interest Rates As Low As; Jumbo loan; Down payment 0%; 720 FICO; single-family primary residence; Rates as of Oct 26, 2026 ET
- Oct 26, 20268.35%▼ from 8.48%
- Oct 20, 20268.48%▼ from 8.61%
- Oct 1, 20268.61%first recorded
Connecticut 15-Year Jumbo Refinance Rates
Effective date 10/26/2026; Jumbo fixed rate; assumes loan amount of $832,751 or greater
Minimum Loan Amount: $832,751; Purchase or Refinance
No additional details available.
- Oct 26, 20266.85%▼ from 6.97%
- Oct 20, 20266.97%first recorded
Rates as of Thursday, October 22, 2026; Fully Indexed Rate: N/A
Maximum loan-to-value of 80% on 1 to 2 family owner-occupied residential property; for loan amounts greater than $832,750; APR effective as of October 26, 2026
Connecticut 5/1 Jumbo ARM Refinance Rates
As Low As; Adjustable-rate mortgage loans; Rates as of Oct 19, 2026 ET
- Oct 20, 20266.78%▼ from 6.83%
- Oct 6, 20266.83%▲ from 6.75%
- Sep 30, 20266.75%first recorded
Caps: 2% initial, 1% every six months, 5% lifetime; Connecticut, Massachusetts, New Hampshire, and Rhode Island properties
- Oct 26, 20266.79%▼ from 6.84%
- Oct 20, 20266.84%▼ from 6.89%
- Oct 14, 20266.89%▲ from 6.81%
- Oct 7, 20266.81%first recorded
Caps: 2% initial, 1% every six months, 5% lifetime; Connecticut, Massachusetts, New Hampshire, and Rhode Island properties
- Oct 26, 20266.79%▼ from 6.84%
- Oct 20, 20266.84%▼ from 6.89%
- Oct 14, 20266.89%▲ from 6.82%
- Oct 7, 20266.82%first recorded
Connecticut FHA Loan Rates
As Low As; Purchase loan, $225,000 loan amount, $375,000 property value, NY (Erie county), primary residence, escrow required, 60-day rate lock, 740 credit score assumed
As Low As; Purchase loan, $225,000 loan amount, $375,000 property value, NY (Erie county), primary residence, escrow required, 60-day rate lock, 740 credit score assumed
FHA; total loan amount $305,250 including 1.75% Upfront Mortgage Insurance Premium on $300,000 base loan; annual mortgage insurance required for 11 years; Monthly Principal & Interest Payment $2,056.53 (excludes mortgage insurance)
Connecticut VA Loan Rates
Variable rate tied to TD Mortgage Prime Rate
As Low As; Rates as of Oct 19, 2026 ET. Rates subject to change. Available exclusively to eligible Servicemembers, Veterans and their spouses. No down payment is required.
As Low As; Rates as of Oct 19, 2026 ET. Rates subject to change. Available exclusively to eligible Servicemembers, Veterans and their spouses. No down payment is required.
As Low As; Rates as low as 6.500%; loan amount $225,000; estimated property value $375,000; purchase; NY (Erie county); existing single family primary residence; escrow required; 60 day rate lock; assumed credit score 740
As Low As; Rates as low as 6.875%; loan amount $225,000; estimated property value $375,000; purchase; NY (Erie county); existing single family primary residence; escrow required; 60 day rate lock; assumed credit score 740
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National Refinance Rate Averages
Daily averages of posted rates across every lender we track, as of October 31, 2026. Use these as the benchmark for the Connecticut quotes above; lenders that price refinances separately currently run about 0.189 points higher.
Connecticut Refinance Rate Trends
Compare local Connecticut refinance quotes against the statewide average
Daily averages of posted first-mortgage rates across our lender network, updated every evening. Because most lenders price purchase and refinance loans identically, this is the benchmark a Connecticut refinance quote should be measured against, plus roughly 0.189 points at lenders that price refinances separately.
Connecticut 30-year fixed rates fell 0.022 points over the past 7 days to 7.246%.
Connecticut 15-year fixed rates rose 0.008 points over the past 7 days to 6.800%.
What Connecticut Homeowners Actually Pay to Refinance
Posted refinance rates from our lender network alongside the rates borrowers closed at, from federal HMDA filings
Two different measures. The refinance premium is computed nightly from lenders that publish separate purchase and refinance pricing. HMDA figures are median note rates on loans that actually closed.
Connecticut Refinance Rate Forecast, Next 12 Months
Where are Connecticut refinance rates headed through October 2027?
Based on Fed funds rate futures, 10-year Treasury path, and historical mortgage spread model. If the forecast shows rates falling, waiting may beat refinancing today; the break-even calculator below shows what each scenario is worth. Not financial advice.
What Forecast Rates Mean for Connecticut Homeowners Refinancing
Monthly principal & interest on a 30-year refinance of the loan of $293,520 (80% of the state median home value). Payment differences show what waiting for the forecast rate would be worth each month.
| Scenario | Rate | Mo. Payment | vs. Today | % of Income |
|---|---|---|---|---|
| Today (CT avg) | 7.246% | $2,002 | 25.1% | |
| 6-Month Forecast | 7.246% (6.90, 7.55%) | $2,002 | +$0/mo | 25.1% |
| 12-Month Forecast | 7.496% (7.15, 7.80%) | $2,052 | +$50/mo | 25.7% |
Income column = annual mortgage payment as % of Connecticut median household income ($95,781). Above 30% is generally considered cost-burdened.
Connecticut Refinance Break-Even Calculator
Enter your current loan and the refinance rate you have been quoted. The calculator shows the new payment, monthly savings, and how many months it takes for those savings to pay back the closing costs. Click a current Connecticut rate on the right to test it instantly.
Principal and interest only. Excludes escrow, mortgage insurance, and any prepayment penalty on the current loan. Lifetime interest compares the remaining interest on the current loan to total interest on the new loan. Estimates are for informational purposes only.
Run the Numbers on Your Connecticut Refinance
The rate is only part of the decision. Use these calculators to turn current Connecticut home refinance rates into monthly savings, break-even months, and total interest before you request quotes from refinance lenders.
If you already own a home, enter your current rate, remaining loan balance, and the rate you’ve been quoted to refinance. The calculator shows your new monthly payment, how much you’d save each month, and the break-even point, the number of months it takes for your savings to cover the closing costs of refinancing.
CalculateEnter your loan amount, interest rate, and term length to see your estimated monthly principal and interest payment. Adjust any variable to model different scenarios: a larger down payment, a shorter term, or a rate a quarter-point lower than what you were quoted.
CalculateIf your goal is cash rather than a lower rate, compare current Connecticut home equity loan and HELOC rates against a cash-out refinance. Keeping a low existing first mortgage and adding a second lien is often the cheaper path, especially for loans originated between 2020 and 2022.
CompareTell us your gross income, monthly debt obligations, and how much you have for a down payment. We’ll show you the home price range you’re likely to qualify for at current Connecticut rates, so you can shop with a realistic number in mind rather than discovering your ceiling after you’ve fallen in love with a property.
CalculateTypes of Refinance Loans Available in Connecticut
Homeowners across Connecticut can choose from several refinance programs. The right one depends on what you are trying to do: lower the rate, shorten the term, pull cash out, or drop mortgage insurance. Pricing, appraisal requirements, and eligibility differ across each, and the cheapest program is not always the lowest posted rate once fees are counted.
Rate-and-Term Refinance
The standard refinance. You replace your existing mortgage with a new loan for about the same balance, changing only the rate, the term, or both. It is the lowest-priced refinance product at nearly every Connecticut lender because the loan-to-value ratio does not rise.
Best for homeowners whose rate is at least half a point above today’s Connecticut average and who plan to stay past the break-even point. Choosing a term that matches your remaining years, rather than resetting to 30, keeps the payoff date where it is.
Cash-Out Refinance
A cash-out refinance replaces your mortgage with a larger one and hands you the difference at closing. Conventional lenders cap the new loan at 80% of appraised value; VA cash-out loans go to 90%. Rates run above rate-and-term pricing.
If you hold a low rate from 2020 to 2022, a home equity loan or HELOC in Connecticut usually costs less than refinancing the whole balance at today’s rate to pull out cash.
FHA Streamline Refinance
For homeowners already in an FHA loan. No appraisal, no income verification, and limited credit review, as long as the new loan produces a net tangible benefit (generally a rate at least 0.5% lower, or a move from an ARM to a fixed rate). You need 210 days since the first payment and six on-time payments.
The upfront mortgage insurance premium is reduced to 0.01% and annual MIP continues, so FHA borrowers with 20% equity and good credit should also price a conventional rate-and-term refinance, which drops mortgage insurance entirely.
VA IRRRL (Streamline Refinance)
The Interest Rate Reduction Refinance Loan lets veterans refinance an existing VA loan with no appraisal, no income documentation, and a funding fee of just 0.5% (waived for borrowers with a service-connected disability). Closing costs can be rolled into the loan.
The new rate must be lower than the current one unless you are moving from an ARM to a fixed rate, and you must recoup closing costs within 36 months. VA lenders in Connecticut quote IRRRL pricing separately, so ask for it by name.
USDA Streamlined-Assist Refinance
For homeowners with an existing USDA Rural Development loan. No appraisal or credit review in most cases, and the new payment must be at least $50 a month lower than the current one. The property no longer has to meet the rural eligibility map.
Twelve months of on-time payments are required, and the 1% upfront guarantee fee plus the annual fee apply to the new loan.
Jumbo Refinance
The 2026 FHFA conforming baseline in Connecticut is $832,750 for most counties, higher in designated high-cost areas. A refinance above the county limit is a jumbo loan, priced and underwritten lender by lender.
Jumbo refinances usually require a 700 or higher credit score, reserves of six to twelve months of payments, and a loan-to-value of 80% or less. Because balances are large, even a quarter-point rate difference is worth thousands a year, so compare the 30-Year Jumbo and 15-Year Jumbo tabs above closely. If paying the balance down to the conforming limit at closing is possible, conforming refinance pricing is often noticeably better.
Methodology & Data Sources
Independent, Free, and Unbiased Rate Comparisons: MonitorBankRates.com is an independent rate comparison service. Our Connecticut refinance rate tables are free for consumers to use, and we do not receive payment from any lender to be included or to be ranked in any particular order. Listings are based solely on the rates each lender publicly advertises on its own website.
A Note on Third-Party Rate Tools: Some pages on our site also feature rate comparison widgets and tools provided by third-party partners. These tools may include sponsored listings or affiliate links, and we may receive compensation when users click through them. We clearly label these widgets so you can tell at a glance which rates come from our independent MonitorBankRates.com tables and which come from our advertising partners.
Direct-Sourced & Verified Refinance Rate Data: We aggregate mortgage and refinance rates for Connecticut directly from the official websites of local lenders, credit unions, and national mortgage originators using our proprietary rate aggregation technology and a dedicated team of rate updaters. Where a lender publishes a product specifically for refinancing, that product is listed by name; where a lender publishes one rate sheet for purchase and refinance loans, that rate is shown as the refinance rate, which is how the lender itself quotes it.
Refinance Premium and HMDA Figures: The refinance premium is the average difference between a lender’s refinance-labeled product and the same lender’s standard product of the same term, computed nightly across lenders that publish both. It is shown for context and is never added to any rate in the tables. HMDA figures are median note rates on first-lien, owner-occupied, one-to-four-unit loans originated in the most recent reporting year, from the Consumer Financial Protection Bureau’s public Loan/Application Register.
Local, Regional, and National Coverage: Our systems constantly monitor the market to provide a complete picture of available home loan products in Connecticut. We feature a comprehensive mix of licensed NMLS financial institutions, from neighborhood credit unions and competitive regional banks to large national originators available to borrowers in CT.
Daily Updates & Time-Stamped Accuracy: Our rate updaters verify and update mortgage and refinance rates daily. Because rates and APRs can fluctuate rapidly based on bond markets and economic conditions, every loan product features its own “last updated” date for full transparency.
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Refinance Product Information
How a Mortgage Refinance Works
A refinance pays off your current mortgage with a new loan on the same Connecticut home. The new lender wires the payoff to the old lender at closing, and from that point you make payments on the new loan only. Because it is a brand-new mortgage, you go through an application, credit check, and usually an appraisal, and you pay closing costs, just as you did when you bought the home.
Refinance Rates vs. Purchase Rates
Most Connecticut banks and credit unions post one rate sheet that applies to purchase and refinance loans alike, which is why the tables above show the same lenders you will find on our Connecticut mortgage rates page. For example, Milford Bank is listing a 30 Year Fixed - First Time Buyer (Milford, Stratford, West Haven and Orange only) at 6.75% for either purpose. Across lenders that post both, refinance pricing currently runs about 0.189 points above the same lender’s purchase rate nationally. Cash-out refinances, investment properties, and second homes carry pricing add-ons at every lender.
Finding Your Break Even Point
Divide total closing costs by the monthly payment savings and you get the number of months until the refinance has paid for itself. A Connecticut homeowner who expects to sell before that month should not refinance, no matter how good the rate looks. The calculator above runs this math with today’s local rates. A shorter break-even, under three years, is a comfortable margin; anything past five years needs a long stay to pay off.
Refinance Closing Costs
Refinance closing costs in Connecticut typically run two to five percent of the loan and include the lender’s origination fee, appraisal, title search and lender’s title policy, recording fees, and prepaid interest. Discount points are optional and buy the rate down. A no-closing-cost refinance rolls the fees into a higher rate or the loan balance. It is not free, but it can be the better choice for a homeowner likely to move or refinance again within a few years, because there is nothing to recoup.
When to Wait
Refinancing rarely pays when the new rate is less than half a point below the current one, when you are more than ten years into a 30-year loan and would reset the clock, or when your credit score has dropped since the original loan. Homeowners holding a rate from 2020 to 2022 are usually better served by keeping that loan and using a home equity loan or HELOC for cash needs. Our Connecticut refinance rate trends above show where rates have been over the past 90 days, and the forecast gives a sense of where they may head, so you can decide whether to lock now or wait.
Frequently Asked Questions about Refinance Rates in Connecticut
What are refinance rates in Connecticut today?
What are home loan refinance rates in Connecticut (CT) today?
Are refinance rates higher than purchase mortgage rates in Connecticut?
When does refinancing make sense in Connecticut?
How soon can I refinance a mortgage in Connecticut?
What is a rate-and-term refinance?
What is a cash-out refinance?
Does refinancing reset my 30-year term?
What are typical refinance closing costs in Connecticut?
What is the difference between interest rate and APR on a refinance?
Should I lock my refinance rate?
How do I compare refinance lenders in Connecticut?
How do I get refinance quotes in Connecticut?
What are the best refinance rates in Connecticut?
- Milford Bank: 6.75% (30 Year Fixed - First Time Buyer (Milford, Stratford, West Haven and Orange only))
- Selfreliance Federal Credit Union: 6.875% (30 Year Fixed Mortgage)
- ives Bank: 6.875% (30 Year Fixed Rate)
- M&T Bank: 6.875% (30 Year Fixed)
- Finex Credit Union: 6.875% (30 Year Fixed Mortgage Promo)
Connecticut Rates & Resources
Home Refinance Rates by City in Connecticut (CT)
