Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are ours.

View mortgage refinancing rates for March 16, 2021, which are unchanged from yesterday. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS number 1681276, current mortgage refinancing rates have come down from yesterday. After jumping 3%, mortgage and refinancing rates eased as rates on all types of loans remained unchanged from their average rate of 2.750%. Refinancing rates remain low by historical standards, even though they remain in a state of flux.

  • Refinancing at a fixed rate over 30 years: 3.125%, immutable
  • Refinancing at a fixed rate over 20 years: 3.000%, immutable
  • Refinancing at a fixed rate over 15 years: 2.500%, immutable
  • Refinancing at a fixed rate over 10 years: 2.375%, immutable

Prices updated on March 16, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

If you think about refinance your mortgage, consider using Credible. Whether you want to save money on your monthly mortgage payments or are considering a cash refinance, Credible’s free online tool will allow you to compare the rates of several mortgage lenders. You can see prequalified fares in as little as three minutes.

Current fixed refinancing rates over 30 years

The current rate for a 30 year fixed rate refinance is 3.125%. It’s the same as yesterday.

Current 20-year fixed refinancing rates

The current rate for a 20 year fixed rate refinance is 3000%. It’s the same as yesterday.

Current fixed refinancing rates over 15 years

The current rate for a 15-year fixed rate refinance is 2,500%. It’s the same as yesterday.

Current fixed refinancing rates over 10 years

The current rate for a 10 year fixed rate refinance is 2.375%. It’s the same as yesterday.

You can explore your mortgage refinancing options in minutes by visiting Credible to compare rates and lenders. Discover Credible and get prequalified today.

Prices updated on March 16, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

How Mortgage Refinance Rates Have Changed

Today, mortgage refinance rates have increased compared to the same period last week.

  • Fixed refinancing rates over 30 years: 3.125%, compared to 2.875% last week, +0.250
  • Fixed refinancing rates over 20 years: 3.000%, compared to 2.875% last week, + 0.250
  • Fixed refinancing rates over 15 years: 2.500%, compared to 2.250% last week, +0.250
  • Fixed refinancing rates over 10 years: 2.375%, compared to 2.125% last week, +0.250

Think it might be a good time to refinance? To understand how much you could save on your monthly mortgage payments by refinancing now, calculate numbers and compare rates using Credible’s free online tool. In a matter of minutes, you can see what many mortgage lenders are offering.

Prices updated on March 16, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

The Factors Behind Today’s Refinance Rates

Current refinancing rates, like mortgage interest rates in general, are affected by many economic factors, such as unemployment figures and inflation. But your personal financial history will also determine the rates you will be offered when refinancing your mortgage.

More important economic factors

  • Strength of the economy
  • Inflation rate
  • Employment
  • Consumer spending
  • Housing construction and other market conditions
  • Stock and bond markets
  • 10-year Treasury yields
  • Federal Reserve policies

Personal economic factors

How To Get Your Lowest Mortgage Refinance Rate

If you want to refinance your mortgage, improve your credit rating, and pay off any other debt could guarantee you a lower rate. It is also a good idea to compare the rates of different lenders if you are hoping to refinance, in order to find the best rate for your situation.

Borrowers can save $ 1,500 on average over the life of their loan by purchasing a single additional quote and on average $ 3,000 by comparing five quotes, according to a study by Freddie mac. Credible can help you compare multiple lenders at once in just a few minutes.

If you do decide to refinance your mortgage, be sure to shop around and compare the rates of several mortgage lenders. You can do it easily with Credible’s free online tool and view your prequalified rates in just three minutes.

Credible also has a partnership with a home insurance broker. You can compare for free home insurance quote via Credible’s partner here. It’s quick, easy and the whole process can be done entirely online.

Mortgage rates by type of loan

If you’re looking for lower monthly payments on an existing home, Credible can help you keep tabs on current mortgage rates and find the loan that’s right for your financial goals.

Before diving into mortgage refinancing, be sure to check out these loan rates, which you can compare by annual percentage rate (APR) as well as the interest rate:

Leave a Reply

Your email address will not be published.