Mortgage refinancing today – key rate drops below 3% | April 5, 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 ours.

See the mortgage refinancing rates for April 5, 2021, down from last Thursday. (iStock)

According to data compiled by Credible Operations, Inc., NMLS number 1681276, current mortgage refinance rates have fallen from last Thursday, with 20-year rates falling below 3% for the first time in seven days. . Average rates for all types of loans remain low at 2.719%.

  • 30-year fixed rate refinancing: 3.250%, unchanged
  • 20-year fixed rate refinancing: 2.875%, down from 3,000%, -0.125
  • Refinancing at a fixed rate over 15 years: 2.500%, unchanged
  • 10-year fixed rate refinancing: 2.250%, unchanged

Prices last updated on April 5, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

If you think about refinance your residential 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 view 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 last Thursday.

Current 20-year fixed refinancing rates

The current 20 year fixed rate refinance rate is 2.875%. This is down from last Thursday.

Current fixed 15-year refinancing rates

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

Current 10-year fixed refinancing rates

The current rate for a 10 year fixed rate refinance is 2.250%. It’s the same as last Thursday.

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

Prices last updated on April 5, 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 fallen compared to this period last week.

  • 30-year fixed refinancing rate: 3.250%, the same as last week
  • 20-year fixed refinancing rate: 2.875%, the same as last week
  • Fixed 15-year refinancing rates: 2.500%, the same as last week
  • 10-year fixed refinancing rates: 2.250%, compared to 2.375% last week, -0.125

Do you think this might be a good time to refinance? You can explore your mortgage refinancing options in minutes by visiting Credible to compare rates and lenders. Discover Credible and get prequalified today.

Prices last updated on April 5, 2021. These prices 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 want 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 pre-qualified rates in just three minutes.

Credible has also partnered with a home insurance broker. If you are looking for a better rate on Home Insurance and consider switching providers, consider using an online broker. You can compare quotes from top rated insurance companies in your area – 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.


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