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 do promote products from our partner lenders who compensate us for our services, all opinions are our own.
Based on data compiled by Credible, current mortgage refinance rates remained largely unchanged compared to last Friday’s, except for 10-year rates, which rose.
- 30-year fixed-rate refinance: 3.125%, unchanged
- 20-year fixed-rate refinance: 2.875%, unchanged
- 15-year fixed-rate refinance: 2.375%, unchanged
- 10-year fixed-rate refinance: 2.375%, up from 2.250%, +0.125
Rates last updated on Nov. 15, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
Mortgage refinance rates for three key terms opened the week at the same near-bargain lows as last week. Still, refinance rates are higher today than they’ve been for the past two Mondays in a row. With mortgage experts predicting slow but steady rate increases through the end of the year, homeowners may want to act quickly to lock in a relatively low rate. Today’s refinance rates remain well below pre-pandemic purchase rates, so homeowners could still save by refinancing today.
These rates are based on the assumptions shown here. Actual rates may vary.
If you’re thinking of 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 let you compare rates from multiple mortgage lenders. You can see 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 last Friday. Refinancing a 30-year mortgage into a new 30-year mortgage could lower your interest rate, but may not have much effect on your total interest costs or monthly payment. Refinancing a shorter term mortgage into a 30-year refinance could result in a lower monthly payment but higher total interest costs.
Current 20-year fixed refinance rates
The current rate for a 20-year fixed-rate refinance is 2.875%. This is the same as last Friday. By refinancing a 30-year loan into a 20-year refinance, you could secure a lower interest rate and reduced total interest costs over the life of your mortgage. But you may get a higher monthly payment.
Current 15-year fixed refinance rates
The current rate for a 15-year fixed-rate refinance is 2.375%. This is the same as last Friday. A 15-year refinance could be a good choice for homeowners looking to strike a balance between lowering interest costs and retaining a manageable monthly payment.
Current 10-year fixed…
Read More: Today’s mortgage refinance rates hold at bargain lows, but the clock’s