Check Refinance Rates

Each replay uses a recreated ChatGPT interface so the placement can be read in its original conversational context. It is not a live or embedded chat.

1. ObservedJul 12, 2026Conversation1 turnsPlacementAfter turn 01 turns · After turn 0Replay chat
   Observed conversationJul 12, 2026 · interface recreation

   ChatGPTArchived view

   What's the average SOFR rate over the last 12 months? And why does it show 5.34 today?

   If you mean the daily overnight SOFR, then over roughly the last 12 months it has averaged about 4.0%, reflecting a gradual decline from around 4.4% in mid-2025 to about 3.5–3.7% today as the Federal Reserve eased policy. The current published overnight SOFR is 3.53% (latest available publication).

   The 5.34% you're seeing is almost certainly not today's overnight SOFR. It is likely one of these instead:

   • Your loan's interest rate, which is often SOFR + a fixed margin. For example:
     • SOFR: 3.53%
     • Margin: 1.81%
     • Loan rate: 5.34%
   • A 12-month or 30-day average from an earlier reset date, if your loan hasn't repriced recently.
   • A CME Term SOFR (1-, 3-, 6-, or 12-month forward-looking rate), which is a different benchmark from the overnight SOFR used by the New York Fed.

   If you're looking at a mortgage or HELOC statement, the 5.34% is very likely your effective interest rate, not the benchmark itself.

   If you tell me:

   • the name of the lender (or upload a screenshot),
   • whether it's a mortgage, HELOC, or business loan,

   I can explain exactly how they arrived at the 5.34% figure.

   

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