Refinance rates mostly inched up today. The average rate on 30-year fixed refinances rose, the average rate on 15-year refinances rose and the average rate on 10-year refinances fell.

While rates on mortgage refinances change daily, overall, they are currently near historical lows. Be sure to shop around for the best refinance rates.

30-year fixed refi

The average 30-year fixed-rate refi is 3.48%, up 3 basis points from a week ago.

At the current average rate, you’ll pay about $448 per month in principal and interest for every $100,000 you borrow.

You can use this mortgage calculator to estimate your monthly payments and see the effect of adding extra payments. It will also help you calculate how much interest you’ll pay over the life of the loan.

15-year fixed refi

The average 15-year fixed-rate refi is 2.75%, up 1 basis point from a week ago.

Remember, shorter-term loans come with a trade-off. You’ll pay more per month, but you’ll also save thousands of dollars over the life of the loan.

For example, monthly payments on a 2.75%, 15-year loan would cost around $679 for every $100,000 borrowed.

Over a 15-year term, the total interest payments would be around $21,152. That’s about $40,102 less than what you’d pay in interest with a 30-year loan at today’s rate.

10-year fixed refi

The average 10-year fixed-rate refi is 2.68%, down 15 basis points from a week ago.

Monthly payments on a 10-year fixed-rate refi at 2.68% would cost about $951 per month. And you’d only pay around $14,109 in interest over the life of the loan.

But keep in mind that refinancing is all about the numbers. It makes sense when you can reduce the costs of the loan.

Use this mortgage refinance calculator to see if you’ll save by refinancing.

Serial refinancing

Rock-bottom interest rates and frustration over the economy have some homeowners repeatedly refinancing their homes.

Approximately 3.5 million homeowners refinanced their home twice between 2006 and 2008. Another 2.2 million refinanced twice between 2009 and 2012.

Given the right circumstances, refinancing can help you save on closing costs, lower your monthly payment, shorten your loan term, tap home equity, reduce the amount of interest you pay overall and ditch private mortgage insurance.

Here’s how to figure out if you should serial refinance.

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You will see these rates listed on Bankrate site averages; these calculations are run after the close of the business day. Included there are rates and/or yields we have collected on the previous day for a specific banking product.