Today’s Mortgage Refinance Rates Break Up Trend and Stay Firm | March 31, 2021

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 our own.

View mortgage refinancing rates as of March 31, 2021, which are unchanged from yesterday. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS number 1681276, current mortgage refinance rates for all types of loans have declined after several consecutive days of increases. Mortgage refinancing rates are up slightly week over week, but have moved away from the March highs seen last week.

  • 30-year fixed rate refinancing: 3.250%, unchanged
  • 20-year fixed rate refinancing: 3.000%, unchanged
  • Refinancing at a fixed rate over 15 years: 2.500%, unchanged
  • Refinancing at a fixed rate over 10 years: 2.375%, unchanged

Rates last updated on March 31, 2021. These rates 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 consider refinancing with cash, Credible’s free online tool will allow you to compare the rates of several mortgage lenders. You can see the pre-qualified rates in as little as three minutes.

Current fixed 30-year refinancing rates

The current rate for a 30 year fixed rate refinance is 3.250%. 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 15-year fixed refinancing rates

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 refinance options in minutes by visiting Credible to compare rates and lenders. Discover Credible and get prequalified today.

Rates last updated on March 31, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

How Mortgage Refinance Rates Have Changed

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

  • Fixed refinancing rates over 30 years: 3.250%, the same as last week
  • 20-year fixed refinancing rate: 3,000%, compared to 2.875% last week, +0.125
  • Fixed 15-year refinancing rates: 2.500%, the same as last week
  • 10-year fixed refinancing rates: 2.375%, the same as last week

Think it’s 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 view your pre-qualified rates in just three minutes.

Rates last updated on March 31, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

Factors driving current refinancing rates

Current refinancing rates, like mortgage interest rates in general, are affected by many economic factors, such as unemployment and inflation. But your personal financial history will also determine the rates you are 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 score 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 rate quote, and an average of $ 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:

Have a financial question, but don’t know who to ask? Email the Credible Money Expert at [email protected] and your question can be answered by Credible in our Money Expert section.

About James Almanza

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