Today's mortgage refinance rates not budging from record lows | July 13, 2021Check out the mortgage refinancing rates for July 13, 2021, which are unchanged from yesterday. (iStock) Based on data compiled by Credible, current mortgage refinance rates have leveled off, maintaining a second straight day of exceptional lows. 30-year fixed-rate refinance: 2.750%, unchanged20-year fixed-rate refinance: 2.750%, unchanged15-year fixed-rate refinance: 2.250%, unchanged10-year fixed-rate refinance: 2.125%, unchangedRates last updated on July 13, 2021. These rates are based on the assumptions shown here. Actual rates may vary.With refinance rates across all repayment terms well below 3.000%, homeowners have an unprecedented opportunity to shorten their repayment terms, save on interest and secure a manageable monthly mortgage payment. Since mortgage refinancing rates fluctuate from day to day with changing market conditions, it’s a good idea for homeowners to get pre-approval and lock in a low interest rate as quickly as possible.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 ratesThe current rate for a 30-year fixed-rate refinance is 2.750%. This is the same as yesterday.Current 20-year fixed refinance ratesThe current rate for a 20-year fixed-rate refinance is 2.750%. This is the same as yesterday.Current 15-year fixed refinance ratesThe current rate for a 15-year fixed-rate refinance is 2.250%. This is the same as yesterday.Current 10-year fixed refinance ratesThe current rate for a 10-year fixed-rate refinance is 2.125%. This is the same as yesterday.You can explore your mortgage refinance options in minutes by visiting Credible to compare rates and lenders. Check out Credible and get prequalified today.Rates last updated on July 13, 2021. These rates are based on the assumptions shown here. Actual rates may vary.How mortgage refinance rates have changedToday, mortgage refinance rates are mostly unchanged compared to this time last week.30-year fixed refinance rates: 2.750%, down from 2.875% last week, -0.12520-year fixed refinance rates: 2.750%, unchanged from last week15-year fixed refinance rates: 2.250%, up from 2.125% last week, +0.12510-year fixed refinance rates: 2.125%, unchanged from last weekThink it might be the right time to refinance? To understand just how much you could save on monthly mortgage payments by refinancing now, crunch the numbers and compare rates using Credible's free online tool. Within minutes, you can see what multiple mortgage lenders are offering.Rates last updated on July 13, 2021. These rates are based on the assumptions shown here. Actual rates may vary.The factors behind today’s refinance ratesCurrent refinance rates, like mortgage interest rates in general, are affected by many economic factors, like unemployment numbers and inflation. But your personal financial history will also determine the rates you’re offered when refinancing your mortgage.Larger economic factorsStrength of the economyInflation ratesEmploymentConsumer spendingHousing construction and other market conditionsStock and bond markets10-year Treasury yieldsFederal Reserve policiesPersonal economic factorsCredit scoreCredit historyHome equityLoan amount, loan term, and loan typeDebt-to-income ratioLocation of the propertyHow to get your lowest mortgage refinance rateIf you’re interested in refinancing your mortgage, improving your credit score and paying down any other debt could secure you a lower rate. It’s also a good idea to compare rates from different lenders if you're hoping to refinance, so you can find the best rate for your situation. Borrowers can save $1,500 on average over the life of their loan by shopping for 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 shop around and compare rates from multiple mortgage lenders. You can do this easily with Credible’s free online tool and see your prequalified rates in only three minutes.Credible is also partnered with a home insurance broker. If you're looking for a better rate on home insurance and are considering switching providers, consider using an online broker. You can compare quotes from top-rated insurance carriers in your area — it's fast, easy and the whole process can be completed entirely online.Mortgage rates by loan typeIf you’re seeking lower monthly payments on an existing home, Credible can help you keep an eye on current mortgage rates and find the right loan for your financial goals.Before you dive into mortgage refinancing, be sure to check out these loan rates, which you can compare by annual percentage rate (APR), as well as interest rate:30 Year Refinance Rates20 Year Refinance Rates15 Year Refinance Rates10 Year Refinance Rates30 Year Mortgage Rates20 Year Mortgage Rates15 Year Mortgage Rates10 Year Mortgage RatesHave a finance-related question, but don't know who to ask? Email The Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.As a Credible authority on mortgages and personal finance, Chris Jennings has covered topics that include mortgage loans, mortgage refinancing, and more. He’s been an editor and editorial assistant in the online personal finance space for four years. His work has been featured by MSN, AOL, Yahoo Finance, and more.Source: Read Full Article Related posts: Alabama’s Legacy of Racism Cited in Mail-In Voting Decision Pension contributions to be impacted by the new Job Support Scheme – support to reduce Sen. Richard Shelby, R-Ala., to retire, becoming fourth Republican to not seek reelection in 2022 Alexandria Ocasio-Cortez Demands Higher Pay For Hill Staff To Increase Diversity On the campaign trail: Where are the Georgia Senate candidates today, 3 days out from runoffs?