Today’s Mortgage Refinance Rates Soar, a Key Rate Still Below 3% | March 15, 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 products from our partner lenders that compensate us for our services, all opinions are our own.

Check out the mortgage refinance rates for March 15, 2021, which are higher than last Friday. (iStock)

According to data compiled by Credible Operations, Inc., NMLS Number 1681276, current mortgage refinance rates have increased compared to last Friday. Mortgage and refinance rates saw a large increase today, with the average mortgage rate reaching 2,750%. The peak represents a significant increase from week to week. Last week, mortgage rates were 2,500% markedly lower, as all rates were comfortably below 3%.

  • 30-year fixed rate refinancing: 3.125%, from 2.875%, +0.250
  • 20-year fixed rate refinancing: 3,000%, up to 2,750%, +0,250
  • 15-year fixed rate refinancing: 2,500%, up to 2,250%, +0,250
  • 10-year fixed rate refinancing: 2.375%, up to 2.000%, +0.375

Rates last updated on March 15, 2021. These rates are based on the assumptions shown. here. Actual rates may vary.

If you are thinking of refinance your home mortgage, consider using Credible. Whether you’re interested in saving money on your monthly mortgage payments or considering a cash-out refinance, Credible’s Free Online Tool It will allow you to compare the rates of various mortgage lenders. You can view prequalified rates in as little as three minutes.

Current 30-year fixed refinance rates

The current rate for a 30-year fixed rate refinance is 3.125%. This is from last Friday.

Current 20-year fixed refinance rates

The current rate for a 20-year fixed rate refinance is 3,000%. This is from last Friday.

Current fixed 15-year refinance rates

The current rate for a 15-year fixed rate refinance is 2,500%. This is from last Friday.

Current 10-year fixed refinance rates

The current rate for a 10-year fixed rate refinance is 2.375%. This is from last Friday.

You can explore your mortgage refinance options in minutes by visiting Credible to compare rates and lenders. Take a look at Credible and prequalify yourself today.

Rates last updated on March 15, 2021. These rates are based on the assumptions shown. here. Actual rates may vary.

How Mortgage Refinancing Rates Have Changed

Today, mortgage refinance rates have increased compared to last week.

  • 30-year fixed refinance rates: 3.125%, compared to 2.875% last week, +0.250
  • 20-year fixed refinance rates: 3,000%, up from 2.875% last week, +0.250
  • Fixed 15-year refinance rates: 2,500%, compared to 2,250% last week, +0,250
  • 10-year fixed refinance rates: 2.375%, compared to 2.000% last week, +0.375

Do you think it might be the right time to refinance? To understand how much you could save on your monthly mortgage payments by refinancing now, calculate numbers and compare rates with Credible’s free online tool. In a matter of minutes, you can see what various mortgage lenders have to offer.

Rates last updated on March 15, 2021. These rates are based on the assumptions shown. here. Actual rates may vary.

The Factors Behind Today’s Refinance Rates

Today’s refinance rates, like mortgage interest rates in general, are affected by many economic factors, such as unemployment figures and inflation. But your personal financial history will also determine the rates that are offered to you when you refinance your mortgage.

Most important economic factors

  • Strength of the economy
  • Inflation rates
  • job
  • Consumer spending
  • Home 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 refinance rate

If you are interested in refinancing your mortgage, improving your credit score, and paying off any other debt you could assure you a lower rate. It is also a good idea to compare the rates of different lenders if you hope to refinance, so that you can find the best rate for your situation.

Borrowers can save $ 1,500 on average over the life of their loan by purchasing just one additional rate quote, and an average of $ 3,000 by comparing five rate quotes, according to research from Freddie mac. Credible can help you compare multiple lenders at once in just a few minutes.

If you decide to refinance your mortgage, be sure to research and compare the rates of various mortgage lenders. You can do this easily with Credible’s free online tool and see your prequalified rates in just three minutes.

Credible is also associated with a home insurance broker. If you are looking for a better rate in home insurance and you are considering switching providers, consider using an online broker. You can compare quotes from the top-rated insurance companies in your area – it’s quick, easy, and the entire process can be completed completely online.

Mortgage rates by type of loan

If you are looking for lower monthly payments on an existing home, Credible can help you monitor current mortgage rates and find the right loan for your financial goals.

Before diving into mortgage refinancingBe sure to check out these loan rates, which you can compare by annual percentage rate (APR) as well as the interest rate:

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