Today’s mortgage refinance rates are as cheap as purchase rates | July 21, 2021


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Check out mortgage refinance rates for July 21, 2021, which have been a mixed bag since yesterday. (iStock)

Based on data compiled by Credible, current mortgage refinance rates are mixed compared to yesterday, with two prime rates rising and two unchanged.

  • 30 year fixed rate refinance: 2.625%, unchanged
  • 20 year fixed rate refinance: 2.500%, above 2.375%, +0.125
  • 15 year fixed rate refinance: 2.125%, above 2.000%, +0.125
  • 10 Year Fixed Rate Refinance: 2.000%, unchanged

Rates were last updated on July 21, 2021. These rates are based on assumptions shown Here. Actual rates may vary.

Historically, mortgage refinance rates have been much higher than mortgage rates for home purchases. But today’s refinance rates on all terms remain around the same level as purchase rates, which represent a great deal for homeowners looking to shorten their tenure and save big on interest. After 20-year rates fell to 2.375% yesterday – unprecedented for the period – they jumped back to 2.50% today, but can still help homeowners save interest while keeping their monthly payments manageable. Meanwhile, the 30-year rates are the lowest since February – they are sitting at 2.625% for the second day in a row.

If you’re looking to refinance your home mortgage, consider using credibles. Whether you’re interested in saving money on your monthly mortgage payment or are considering a cash-out refinance, Credible’s free online tool will let you compare rates from multiple mortgage lenders. You can view pre-qualified rates in as little as three minutes.

Current 30-Year Fixed Refinance Rates

The current rate for a 30-year fixed rate refinance is 2.625%. It’s the same as yesterday.

Current 20-Year Fixed Refinance Rates

The current rate for a 20-year fixed-rate refinance is 2.50%. This is from yesterday.

Current 15-Year Fixed Refinance Rates

The current rate for a 15-year fixed rate refinance is 2.125%. This is from yesterday.

Current 10-Year Fixed Refinance Rates

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. Check out Reliable and get pre-qualified today.

Rates were last updated on July 21, 2021. These rates are based on assumptions shown Here. Actual rates may vary.

How have mortgage refinance rates changed?

Today, mortgage refinance rates have declined compared to this time last week.

  • 30 Year Fixed Refinance Rates: 2.625%, down from 2.875% last week, -0.250
  • 20 Year Fixed Refinance Rates: 2.500%, down from 2.875% last week, -0.375
  • 15 Year Fixed Refinance Rates: 2.125%, unchanged from the previous week
  • 10 Year Fixed Refinance Rates: 2.000%, down from 2.250% last week, -0.250

If you think refinancing is the right move, consider using credibles. You can use Credible’s free online tool to easily compare multiple mortgage refinance lenders and see pre-qualified rates in three minutes.

Rates were last updated on July 21, 2021. These rates are based on assumptions shown Here. Actual rates may vary.

The Factors Behind Today’s Refinance Rates

Current refinancing rates, like mortgage interest rates in general, are influenced by a number of economic factors such as unemployment numbers and inflation. But your personal financial history will also determine the rates you pay when you refinance your mortgage.

big economic factors

  • economy strength
  • inflation rate
  • employment
  • consumer spending
  • Housing construction and other market conditions
  • stock and bond market
  • 10 Year Treasury Yield
  • Federal Reserve Policies

personal economic factors

How to find your lowest mortgage refinance rate

If you’re interested in refinancing your mortgage, improving your credit score and paying off any other debt may get you a lower rate. If you’re looking to refinance, it’s also a good idea to compare rates from different lenders so that you can find the best rate for your situation.

According to research, borrowers can save an average of $1,500 over the life of their loan by shopping for just one additional rate quote, and an average of $3,000 by comparing five rate quotes. Freddie Mac. Credible can help you compare multiple lenders at once in a matter of minutes.

If you decide to refinance your mortgage, be sure to shop around and compare rates from several mortgage lenders. You can do this easily with Credible’s free online tool and see your pre-qualified rates in just three minutes.

Credible also has a partnership with a home insurance broker. If you are looking for a better rate on home insurance and are considering changing providers, consider using an online broker. You can compare quotes from the top-rated insurance carriers in your area—it’s fast, easy, and the entire process can be completed completely online.

Mortgage Rates by Loan Type

If you’re seeking a lower monthly payment on an existing home, Credible can help you keep track of current mortgage rates and find the right loan for your financial goals.

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

You have questions related to finance, but don’t know what to ask? Email a trusted money expert at moneyexpert@credible.com and your question may be answered by credible in our Money Expert column.

As a trusted authority on mortgage and personal finance, Chris Jennings covers topics that include mortgage loans, mortgage refinancing, and more. He has been editor and editorial assistant in the online personal finance sector for four years. His work has been featured by MSN, AOL, Yahoo Finance, and others.

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