Our purpose here at Credible Operations, Inc., NMLS number 1681276, which is referred to below as ‘credible’, is to provide you with the necessary tools and confidence to improve your finances. Although we do promote products from our partner donors, all opinions are our own.
Look at the mortgage refinancing rates for December 30, 2020, which are unchanged from yesterday. (iStock)
Based on data compiled by Credible Operations, Inc., NMLS number 1681276, current refinancing rates have caught at unprecedented lows with 30-year, 20- and 15-year refinancing rates that saw no change from yesterday.
- 30-year fixed interest rate refinance: 2.625%, unchanged
- Fixed interest rate recovery for 20 years: 2.625%, unchanged
- 15-year fixed interest rate refinance: 2.125%, unchanged
Rates were last updated on 30 December 2020. These rates are based on the assumptions shown here. Actual rates may vary.
If you are thinking of refinancing your home mortgage, consider using it credibly. Whether you’re interested in saving money on your monthly mortgage payments, or refinancing a payout, Credible’s free online tool lets you compare rates from multiple mortgage lenders. You can see pre-qualified rates within three minutes.
Current thirty years fixed rate refinancing
The current rate for 30 years fixed rate refinancing is 2.625%. It’s the same as yesterday.
Current 20 years fixed rate refinancing
The current rate for a 20-year fixed rate refinancing is 2.625%. It’s the same as yesterday.
Current 15 years fixed rate refinancing
The current rate for a 15-year fixed rate refinancing is 2.125%. It’s the same as yesterday.
You can explore your mortgage refinancing options within minutes by visiting Credible to compare rates and lenders. Check out Credible and qualify in advance today.
Rates were last updated on 30 December 2020. These rates are based on the assumptions shown here. Actual rates may vary.
How mortgage refinancing rates have changed
The refinancing rates for mortgage loans today remain unchanged compared to this time last week.
- 30 years of fixed refinancing: 2.625%, same as last week
- 20 years of fixed refinancing: 2.625%, same as last week
- Fixed refinancing of 15 years: 2.125%, same as last week
Think this might be the right time to refinance? To understand how much you could save on monthly mortgage payments by refinancing now, pinch your numbers and compare rates with Credible’s free online tool. Within minutes you can see what several mortgage lenders are offering.
Rates were last updated on 30 December 2020. These rates are based on the assumptions shown here. Actual rates may vary.
The factors behind today’s refinancing rates
Current refinancing rates, such as mortgage interest rates in general, are influenced by many economic factors, such as unemployment rates and inflation. But your personal financial history will also determine the rates offered to you when refinancing your mortgage.
Greater economic factors
- Strength of the economy
- Inflation rates
- Employment
- Consumer spending
- Housing construction and other market conditions
- Stock and bond markets
- 10-year Treasury returns
- Federal Reserve Policy
Personal economic factors
- Credit score
- Credit history
- Installment size
- Loan-to-value ratio
- Type of loan, size and term
- Debt-to-income ratio
- Location of the property
How To Get Your Lowest Mortgage Refinancing Rate
If you are interested in refinancing your mortgage, you can secure a lower rate if you improve your credit score and pay off any other debt. It is also a good idea to compare rates from different lenders if you want to refinance so that you can find the best rate for your situation.
Borrowers can save an average of $ 1,500 over the term of their loan by buying just one additional rate quote, and an average of $ 3,000 by comparing five rates, according to research by Freddie Mac. Credible can help you compare multiple money lenders at once.
If you decide to refinance your mortgage, make sure you compare rates from multiple mortgage lenders. You can do this easily with Credible’s free online tool and see your pre-qualified rates in just three minutes.
Credible is also partnering with a home insurance broker. If you are looking for a better rate for home insurance and are considering switching from provider, consider using an online broker. You can compare quotes from top insurance companies in your area – it’s quick, easy and the whole process can be completed completely online.
Mortgage rates by type of loan
Whether you’re a first time homebuyer buying a mortgage loan, or you’re looking for a lower monthly payment on an existing home, Credible can help you find the right mortgage for your financial goals.
Note the following loans, which you will be able to compare with the annual percentage rate (APR) as well as the interest rate:
More resources for mortgage refinancing
Want to learn more about refinancing your home loan? Check out the following articles: