Today’s Mortgage Refinance Rates Stay Low, 15-Year Rates Go Down Again | July 28, 2021


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View mortgage refinance rates for July 28, 2021, which are largely unchanged from yesterday. (iStock)

Based on data compiled by Credible, current mortgage refinancing rates have remained stable in low territory, with 15-year fixed rates falling slightly.

  • Fixed refinancing rates over 30 years: 2.750%, unchanged
  • Fixed refinancing rates over 20 years: 2.625%, unchanged
  • Fixed refinancing rates over 15 years: 2,000%, compared to 2.125%, -0.125
  • Fixed refinancing rates over 10 years: 2,000%, unchanged

Prices updated on July 28, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

While mortgage refinance rates are historically higher than buy rates, refinance rates and buy rates have kept pace throughout 2021, which means it is currently as cheap to refinance a house than buying one. And 15-year rates remain a bargain, offering the same interest rates as 10-year mortgages, but with the option of a smaller monthly payment.

If you are thinking about refinancing your mortgage, consider using Credible. Whether you want to save money on your monthly mortgage payments or consider refinancing with cash, Credible’s free online tool will allow you to compare rates from multiple 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 2.750%. It’s the same as yesterday.

Current 20-year fixed refinancing rates

The current rate for a 20 year fixed rate refinance is 2.625%. It’s the same as yesterday.

Current fixed refinancing rates over 15 years

The current rate for a 15 year fixed rate refinance is 2,000%. This is down from yesterday.

Current fixed refinancing rates over 10 years

The current rate for a 10 year fixed rate refinance is 2,000%. 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 July 28, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

How Mortgage Refinance Rates Have Changed

Mortgage refinancing rates today are mixed compared to the same time last week.

  • Fixed refinancing rates over 30 years: 2.750%, compared to 2.625% last week, +0.125
  • Fixed refinancing rates over 20 years: 2.625%, compared to 2.500% last week, +0.125
  • Fixed refinancing rates over 15 years: 2,000%, compared to 2.125% last week, -0.125
  • Fixed refinancing rates over 10 years: 2,000%, same as last week

Think it might be a good time to refinance? Be sure to shop around and compare rates with multiple mortgage lenders. You can do this easily with Credible and see your prequalified rates in just three minutes.

Prices updated on July 28, 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
  • Use
  • 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’s also a good idea to compare the rates of different lenders if you are hoping to refinance 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 this easily with Credible’s free online tool and see your prequalified rates in just three minutes.

Credible also has a partnership with a home insurance broker. You can compare free home insurance quotes through 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 you jump into mortgage refinancing, be sure to check out these loan rates, which you can compare by Annual Percentage Rate (APR), as well as by interest rate:

Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question could be answered by Credible in our Money Expert column.

As a credible authority on mortgages and personal finance, Chris Jennings has covered topics such as mortgages, mortgage refinancing, and more. He was an editor and editorial assistant in the online personal finance field for four years. His work has been featured by MSN, AOL, Yahoo Finance, and more.


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