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Check mortgage refinancing rates for March 5, 2021, which fell from yesterday. (iStock)
Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, current mortgage refinancing rates have dropped compared to yesterday, with 30-year rates falling below 3% for the first time in 13 days. At 2.875%, 30-year refinancing rates have fallen by half a percentage point since last week, while 15-year refinancing rates have fallen closer to the average levels seen in December 2020.
- 30-year fixed rate refinancing: 2.875%, below 3.125%, -0.250
- 20-year fixed rate refinancing: 3.000%, above 2.875%, + 0.125
- 15-year fixed rate refinancing: 2,250%, below 2,500%, -0,250
- 10-year fixed rate refinancing: 2.125%, below 2.250%, -0.125
Rates last updated on March 5, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
If you are considering refinancing your home mortgage, consider using Credible. Whether you’re interested in saving money on your monthly mortgage payments or considering a withdrawal refinance, Credible’s free online tool will allow you to compare rates from multiple mortgage lenders. You can see pre-qualified rates in just three minutes.
Current 30-year fixed refinancing rates
The current rate for a 30-year fixed rate refinancing is 2.875%. This is less than yesterday.
Current 20-year fixed refinancing rates
The current rate for a 20-year fixed rate refinancing is 3,000%. This is from yesterday.
Current 15-year fixed refinancing rates
The current rate for a 15-year fixed rate refinancing is 2.250%. This is less than yesterday.
Current 10-year fixed refinancing rates
The current rate for a 10-year fixed rate refinancing is 2.125%. This is less than yesterday.
You can explore your mortgage refinancing options in minutes by visiting Credible to compare rates and lenders. Check out Credible and be pre-qualified today.
Rates last updated on March 5, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
How mortgage refinancing rates have changed
Today, mortgage refinancing rates have dropped compared to last week.
- 30-year fixed refinancing rates: 2.875%, down from 3.375% last week, -0.500
- 20-year fixed refinancing rates: 3,000%, down from 3.375% last week, -0.375
- 15-year fixed refinancing rates: 2.250%, down from 2.500% last week, -0.250
- 10-year fixed refinancing rates: 2.125%, same as last week
Do you think this is the right time to refinance? You can explore your mortgage refinancing options in minutes by visiting Credible to compare rates and lenders. Check out Credible and be pre-qualified today.
Rates last updated on March 5, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
The factors behind today’s refinancing rates
Current refinancing rates, like mortgage interest rates in general, are affected by many economic factors, such as unemployment numbers and inflation. But your personal financial history will also determine the rates offered when refinancing your mortgage.
Major economic factors
- Economy strength
- Inflation rates
- Job
- Consumer spend
- Housing construction and other market conditions
- Stock and bond markets
- 10-year Treasury yields
- Federal Reserve Policies
Personal economic factors
How To Get The Lowest Mortgage Refinancing Rate
If you are interested in refinancing your mortgage, improving your credit score and paying off any other debt can guarantee a lower rate. It is also a good idea to compare the rates of different lenders if you intend to refinance, so that you can find the best rate for your situation.
Borrowers can save $ 1,500 on average over the life of the loan by buying just one additional rate quote, and an average of $ 3,000 when comparing five rate quotes, according to Freddie Mac research. Credible can help you to compare multiple creditors at the same time in just a few minutes.
If you decide to refinance your mortgage, be sure to research and compare the rates of 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 home insurance rate and are considering switching providers, consider using an online broker. You can compare insurance quotes with the best ratings in your area – it’s quick, easy and the entire process can be completed entirely online.
Mortgage rates by type of loan
If you are looking for lower monthly payments on an existing home, Credible can help you keep an eye on current mortgage rates and find the right loan 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 interest rate: