Near-Record Lows in 9 Days: Buyers Win with 10-Year and 15-Year Mortgage Refinancing Rates | 19 August 2021

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Our goal here at Credible Operations, Inc., NMLS 1681276, hereinafter referred to as “Credible”, is to provide you with the tools and confidence you need to improve your finances. Although we promote the products of our lender partners who compensate us for our services, all opinions are ours.

Check out mortgage refinancing rates as of August 19, 2021, which have barely changed since yesterday. (iStock)

According to data compiled by Credible, current mortgage refinancing rates have barely changed since yesterday, with the exception of 20-year rates, which rose slightly.

  • 30 Years Fixed Rate Refinancing: 2.875%, no change
  • 20 year fixed rate refinancing: 2.750%, up from 2.625%, +0.125
  • 15 year fixed rate refinancing: 2.125%, no change
  • 10 year fixed rate refinancing: 2.125%, no change

Rates were last updated on August 19, 2021. These rates are based on the stated assumptions. here… Actual rates may vary.

Today’s mortgage refinancing rates remain well below an annual high of 3.125%. While shorter refinancing terms usually provide lower interest rates and more savings, 10-year and 15-year rates can be especially attractive right now for homeowners looking to maximize their interest savings and pay off their homes faster.

If you think about mortgage loan refinancing, consider using Credible. If you are interested in saving money on your monthly mortgage payments or are considering refinancing with cash payments, Free online tool Credible will allow you to compare rates from multiple mortgage lenders. You can see the pre-qualification in just three minutes.

Current 30-year fixed refinancing rates

The current 30-year fixed rate refinancing rate is 2.875%. This is the same as yesterday.

Current 20-year fixed refinancing rates

The current 20-year fixed rate refinancing rate is 2.750%. It was yesterday.

Current 15-year fixed refinancing rates

The current 15-year fixed rate refinancing rate is 2.125%. This is the same as yesterday.

Current 10-year fixed refinancing rates

The current 10-year fixed rate refinancing rate is 2.125%. This is the same as yesterday.

You can explore your mortgage refinancing options in minutes by visiting Credible to compare rates and lenders. Check plausibility and pre-qualify today.

Rates were last updated on August 19, 2021. These rates are based on the stated assumptions. here… Actual rates may vary.

How the mortgage refinancing rates have changed

Today, mortgage refinancing rates have remained virtually unchanged compared to that time last week.

  • 30 year fixed refinancing rates: 2.875%, up from 2.750% last week, +0.125
  • 20-year fixed refinancing rates: 2.750% same as last week
  • Fixed refinancing rates for 15 years: 2.125% same as last week
  • one0-year fixed refinancing rates: 2.125% same as last week

If you think refinancing is the right move, consider using Credible. You can use the free online tool Credible Easily compare multiple mortgage refinance lenders and see prequalified rates in just three minutes.

Rates were last updated on August 19, 2021. These rates are based on the stated assumptions. here… Actual rates may vary.

How does Credible calculate refinancing rates?

Changing economic conditions, central bank policy decisions, investor sentiment, and other factors influence changes in mortgage refinancing rates. Reliable average mortgage refinancing rates are calculated based on information provided by partner lenders who are compensating Credible.

The rates assume that the borrower has a credit rating of 740 and is taking out a regular loan on a single family home, which will be their primary residence. The rates also assume no (or very low) discounts and a 20% down payment.

Reliable mortgage refinancing rates will only give you an idea of ​​the current average rates. The rate you receive can vary based on a number of factors.

How To Get The Lowest Mortgage Refinancing Rate

If you are interested in refinancing your mortgage, improve your credit rating and pay off any other debt. provide you with a lower rate… It’s also a good idea to compare rates from different lenders if you’re hoping to refinance to find the best rate for your situation.

According to research from 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 review and compare rates from multiple mortgage lenders. You can it’s easy to do it with the free online tool Credible and you will see your preliminary bids in just three minutes.

Credible also works with a home insurance broker. If you are looking for the best price on home insurance and considering changing your provider, consider using an online broker. You can compare rates from the leading insurance companies in your area – it’s fast, easy, and the whole process can be done completely online.

When should you refinance?

Refinancing your mortgage can be a great way to save money. But this is not always the best move for every homeowner.

People refinance for a number of reasons, including to get a lower interest rate, change the monthly payment, and lower interest costs. Generally, if you can lower your interest rate by at least 0.75%, refinancing can be a good move.

If you refinance your $ 300,000 30-year loan at 4% into a new 30-year loan with an interest rate of 3.25%, you will reduce your monthly payment from $ 1,432 to $ 1306. That’s a monthly savings of $ 126 for a total of $ 45,360 over the life of the mortgage.

But before refinancing, be sure to weigh the closing costs and calculate how long it will take before your refinancing savings cover the refinancing costs.

Have a financial question but don’t know who to contact? Email a Credible Money expert at moneyexpert@credible.com and your question can be answered by Credible in our Money Expert column.

As a reputable expert on mortgages and personal finance, Chris Jennings has covered topics such as mortgages, mortgage refinancing, and more. He has been an editor and assistant editor for personal finance on the Internet for four years. His work has been featured by MSN, AOL, Yahoo Finance and others.

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