Our goal here at Credible Operations, Inc., NMLS number 1681276, referred to as “Credible” below, is to provide you with the tools and confidence you need to improve your finances. Although we promote products from our partner creditors, all opinions are ours.
Check out mortgage refinancing rates for December 23, 2020, which have been on the rise since yesterday. (iStock)
Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, current mortgage refinancing rates have increased compared to yesterday. The slight increase in mortgage refinancing rates today is the first we have seen in 21 days, with the 20-year fixed mortgage rate reaching 2.625%.
- 30-year fixed rate refinancing: 2.625%, unchanged
- 20-year fixed rate refinancing: 2.625%, above 2.500%, + 0.125
- 15-year fixed rate refinancing: 2.125%, unchanged
Rates last updated on December 23, 2020. These rates are based on the assumptions presented 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 rate refinancing
The current rate for a 30-year fixed rate refinancing is 2.625%. This is the same as yesterday.
Current 20-year fixed rate refinancing
The current rate for a 20-year fixed rate refinancing is 2.625%. This is from yesterday.
Current 15-year fixed rate refinancing
The current rate for a 15-year fixed rate refinancing 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 out Credible and be pre-qualified today.
Rates last updated on December 23, 2020. These rates are based on the assumptions presented here. Actual rates may vary.
How mortgage refinancing rates have changed
Today, mortgage refinancing rates have increased compared to last week. More specifically, the 20-year fixed rates increased slightly to 2.625%, which was his first increase in rates in three weeks.
- 30-year fixed refinancing: 2.625%, same as last week
- 20-year fixed refinancing: 2.625%, up from last week, +0.125
- 15-year fixed refinancing: 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 December 23, 2020. These rates are based on the assumptions presented 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
- Credit score
- Credit history
- Down payment size
- Loan-to-value ratio
- Loan type, size and term
- Debt / income ratio
- Property location
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 plan 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 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 real estate insurance broker. You can compare free home insurance quotes through your Credible partner here. It’s quick, easy and the entire process can be completed entirely online.
Mortgage rates by type of loan
Whether you are a home buyer for the first time looking for mortgage loans or are looking for lower monthly payments on an existing home, Credible can help you find the right mortgage for your financial goals.
Be sure to check these loan rates, which you can compare at the annual percentage rate (APR), as well as the interest rate:
More resources to refinance mortgages
Want to learn more about how to refinance your home loan? Take a look at the following articles: