Now is your chance: 10-year mortgage refinancing rates stay at their lowest in 25 days | July 19, 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 the products of our partner lenders who pay us for our services, all opinions are ours.

View mortgage refinancing rates for July 19, 2021, which are mostly unchanged from last Friday. (iStock)

Based on data compiled by Credible, current mortgage refinance rates were unchanged from last Friday, with the exception of 10-year rates, which fell by a quarter of a percentage point.

  • Refinancing at a fixed rate over 30 years: 2.750%, unchanged
  • Refinancing at a fixed rate over 20 years: 2.750%, unchanged
  • Refinancing at a fixed rate over 15 years: 2.250%, unchanged
  • Refinancing at a fixed rate over 10 years: 2,000%, compared to 2,250%, -0,250

Prices updated on July 19, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

Breaking News: FHA Ends Fees, Makes Refinancing Even Cheaper

Refinancing your mortgage becomes even more affordable. On Friday July 16, the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae, Freddie Mac and 11 federal mortgage banks, announced that it would eliminate its unfavorable refinancing fees from the market effective August 1. 2021. The 0.50% fee was applied last year during the pandemic to help Fannie Mae and Freddie Mac cover expected losses.

Today’s 10-year mortgage refinance rates hit a windfall of 2,000% today – the lowest rates this term has seen in 25 days. Homeowners looking to refinance for a shorter term and can make a higher monthly payment could see significant savings on interest at such low rates. Meanwhile, 30- and 20-year rates have held steady for seven consecutive days, and 15-year rates have remained unchanged for the past two days.

If you are thinking about refinancing your mortgage, consider using Credible. Whether you want to save money on your monthly mortgage payments or consider refinancing with cash, Credible’s free online tool will allow you to compare rates from multiple mortgage lenders. You can see prequalified fares in as little as three minutes.

Current fixed refinancing rates over 30 years

The current rate for a 30 year fixed rate refinance is 2.750%. It’s the same as last Friday.

Current 20-year fixed refinancing rates

The current rate for a 20 year fixed rate refinance is 2.750%. It’s the same as last Friday.

Current fixed refinancing rates over 15 years

The current rate for a 15 year fixed rate refinance is 2.250%. It’s the same as last Friday.

Current fixed refinancing rates over 10 years

The current rate for a 10 year fixed rate refinance is 2,000. This is down from last Friday.

You can explore your mortgage refinancing options in minutes by visiting Credible to compare rates and lenders. Discover Credible and get prequalified today.

Prices updated on July 19, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

How Mortgage Refinance Rates Have Changed

Today, mortgage refinancing rates are largely unchanged from the same period last week.

  • Fixed refinancing rates over 30 years: 2.750%, unchanged from last week
  • Fixed refinancing rates over 20 years: 2.750%, unchanged from last week
  • Fixed refinancing rates over 15 years: 2.250%, unchanged from last week
  • Fixed refinancing rates over 10 years: 2,000%, compared to 2.125% last week, -0.125

Think it might be a good time to refinance? To understand how much you could save on monthly mortgage payments by refinancing now, calculate the numbers and compare rates using Credible’s free online tool. In a matter of minutes, you can see what many mortgage lenders are offering.

Prices updated on July 19, 2021. These prices are based on the assumptions presented here. Actual rates may vary.

The Factors Behind Today’s Refinance Rates

Current refinancing 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 you will be offered when refinancing your mortgage.

More important economic factors

  • Strength of the economy
  • Inflation rate
  • Employment
  • Consumer spending
  • Housing construction and other market conditions
  • Stock and bond markets
  • 10-year Treasury yields
  • Federal Reserve policies

Personal economic factors

How To Get Your Lowest Mortgage Refinance Rate

If you want to refinance your mortgage, improve your credit rating, and pay off any other debt could guarantee you a lower rate. It’s also a good idea to compare the rates of different lenders if you are hoping to refinance to find the best rate for your situation.

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

If you do decide to refinance your mortgage, be sure to shop around and compare the rates of several 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 a partner of a home insurance broker. If you are looking for a better home insurance rate and are considering switching providers, consider using an online broker. You can compare quotes from top rated insurance companies in your area – it’s quick, easy, and the whole process can be done entirely online.

Mortgage rates by type of loan

If you’re looking for lower monthly payments on an existing home, Credible can help you keep tabs on current mortgage rates and find the loan that’s right for your financial goals.

Before you jump into mortgage refinancing, be sure to check out these loan rates, which you can compare by Annual Percentage Rate (APR), as well as by interest rate:

Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at [email protected] and your question could be answered by Credible in our Money Expert column.

As a credible authority on mortgages and personal finance, Chris Jennings has covered topics such as mortgages, mortgage refinancing, and more. He was an editor and editorial assistant in the online personal finance field for four years. His work has been featured by MSN, AOL, Yahoo Finance, and more.


Source link

Previous 8.7 million UK adults 'financially stretched' due to pandemic, says Yolt
Next SEC Delays $ 9 Million Payment for Investors Affected by Poor Valuation of VIX Futures

No Comment

Leave a reply

Your email address will not be published. Required fields are marked *