Today’s Mortgage Refinance Rates Are Mixed: One Key Rate Falls While Another Rises | March 2, 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 of our associated lenders, all opinions are our own.

See the mortgage refinance rates for March 2, 2021, which are mixed compared to yesterday. (iStock)

According to data compiled by Credible Operations, Inc., NMLS Number 1681276, current mortgage refinance rates show mixed results compared to yesterday. Average rates on 20-year mortgages fell slightly, while 15-year mortgages increased. These contrary changes kept the average rate on all types of loans stable at 2,833% for the second consecutive day.

  • 30-year fixed rate refinancing: 3.125%, unchanging
  • 20-year fixed rate refinancing: 2.875%, down from 3.000%, -0.125
  • 15-year fixed rate refinancing: 2,500%, up to 2,375%, +0.125
  • 10-year fixed rate refinancing: 2.375%, unchanging

Rates last updated March 2, 2021. These rates are based on the assumptions shown here. Actual fees 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 cash-out refinance, Credible’s free online tool 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 the same as yesterday.

20-year fixed current refinance rates

The current rate for a 20-year fixed rate refinance is 2.875%. This is less than yesterday.

Current fixed 15-year refinance rates

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

Current 10-year fixed refinance rates

The current rate for a 10-year fixed rate refinance is 2.375%. This is the same as yesterday.

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

Rates last updated March 2, 2021. These rates are based on the assumptions shown here. Actual fees 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 3.000% last week, +0.125
  • Fixed 20-year refinance rates: 2,875%, down from 3,000% last week, -0.125
  • Fixed 15-year refinance rates: 2,500%, compared to 2,375% last week, +0.125
  • Fixed 10-year refinance rates: 2.375%, same as last week

Do you think it might be the right time to refinance? Be sure to shop around and compare rates with various mortgage lenders. You can easily do this with Credible and see your prequalified rates in just three minutes.

Rates last updated March 2, 2021. These rates are based on the assumptions shown here. Actual fees 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
  • Yields on 10-year Treasury bonds
  • 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 could ensure 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 by Freddie Mac. Credible can help you compare multiple lenders to one time 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 easily do this with Credible’s free online tool and see your prequalified rates in just three minutes.

Credible also has a partnership with a home insurance broker. You can compare free home insurance quotes through the Credible partner here. 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 refinancing, be sure to check out these loan rates, which you can compare by annual percentage rate (APR) and interest rate:

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