Current refi mortgage rates report for Sept. 23, 2026 | Fortune

Fortune reports that, using Mortgage Research Center data available as of Sept. 22, typical U.S. refinance conditions remain costly. Mortgage refinancing means paying off an existing home loan with a new one and meeting lender requirements such as credit profile, proof of income, and debt-to-income ratio; it also involves a hard inquiry that can slightly lower credit scores, with denial risk if criteria aren’t met. Rates stayed stubbornly near the 7% mark for months, briefly drifting toward about 6.5% by late February. Even after Fed funds rate cuts in Sept., Oct. and Dec. 2025, mortgage rates later ticked up in 2026 after Operation Epic Fury and amid September 2026 benchmark hikes—making near-term relief unlikely.