Cash-Out Refinancing Can Offer a Similar Rate
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Cash-out refinance rates stayed close to regular refinance rates in FreeRateUpdate’s lender network. On October 6 the best advertised 30-year fixed cash-out refinance rate we recorded was 6.875%, an eighth of a point above the best rate-and-term refinance at 6.75%, and on October 5 the two were the same.
They also matched on September 28, and they were an eighth of a point apart on September 1, at 6.125% and 6%. On October 6 those advertised rates, which aren’t quotes, had APRs of 7.068% on the cash-out loan and 6.956% on the regular refinance.
| Date | Cash-out | Rate-and-term |
|---|---|---|
| September 1 | 6.125% | 6% |
| September 15 | 6.375% | 6.25% |
| September 19 | 6.375% | 6.375% |
| September 28 | 6.625% | 6.625% |
| October 1 | 6.75% | 6.75% |
| October 5 | 6.75% | 6.75% |
| October 6 | 6.875% | 6.75% |
How the rates compare on the same balance
Take a $350,000, 30-year loan at the October 6 rates, for a homeowner who qualifies with the lender, paid on schedule with no refinancing or extra payments. The principal and interest payment, before points and other charges, is about $2,299 a month as a cash-out loan at 6.875%, against $2,270 as a rate-and-term refinance at 6.75%.
That’s about $29 more a month for the higher rate on the same balance, or about $10,500 over the 30 years, and the cash-out rate came with fewer points, 1.626 against 1.766.
Source: FreeRateUpdate As Low As rate history, best advertised rates in our lender network, recorded September 1 to October 6, 2026. Captured data: 30-year cash-out · 30-year rate-and-term.
