Mortgage Refinance Rates Today Rise Up, Even If A Key Rate Stays Steady | 23 october 2020

Based on data compiled by Credible Operations, Inc., NMLS number 1681276, mortgage refinancing rates have increased since last week, although the 30-year fixed-rate refinancing rates have remained firm.

• 30-year fixed rate refinancing: 3,000%, same as last week
• 20-year fixed rate refinancing: 3.000%, compared to 2.875% last week, + 0.125
• Refinancing at a fixed rate over 15 years: 2.500%, compared to 2.375% last week, +0.125

Prices updated on October 23, 2020. These prices are based on the assumptions presented here. Actual rates may vary.

If you are considering refinancing, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see prequalified rates in as little as three minutes.

Current 30-year fixed rate refinancing

The current rate for a 30 year fixed rate refinance is 3000%. It’s the same as last week.

Current 20-year fixed rate refinancing

The current rate for a 20 year fixed rate refinance is 3000%. It was from this hour last week.

Current 15-year fixed rate refinancing

The current rate for a 15-year fixed rate refinance is 2,500%. It was from this hour last week.

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

Prices updated on October 23, 2020. These prices are based on the assumptions presented here. Actual rates may vary.

How Mortgage Refinance Rates Have Changed

Mortgage refinancing rates today are mixed compared to yesterday, with 30-year fixed-rate refinancing rates increasing while 15-year fixed-rate refinancing rates have fallen.

• 30-year fixed rate refinancing: 3,000%, Increase +0.125
• Refinancing at a fixed rate over 20 years: 3.000%, Invariable
• Refinancing at a fixed rate over 15 years: 2.500%, Decrease of -0.125

Be sure to shop around and compare rates with several lenders if you decide to refinance. You can do this easily with Credible and see your prequalified rates in just three minutes.

Prices updated on October 23, 2020. These prices are based on the assumptions presented here. Actual rates may vary.

The Factors Behind Today’s Refinance Rates

Current mortgage refinancing rates are affected by many economic factors, such as unemployment figures and inflation. But your personal financial history will also determine the rates you are offered.

More important economic factors

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

Personal economic factors

• Credit score
• Credit history
• Deposit size
• Loan to value ratio
• Amount, type and duration of the loan
• Debt-to-income ratio
• Property location

How To Get Your Lowest Mortgage Refinance Rate

If you want to get the best mortgage refinance rate, improving your credit score and paying off any other debt could secure you a lower rate. It’s also a good idea to compare the rates of different lenders if you are hoping to refinance your mortgage, in order 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.

Be sure to shop around and compare rates with several lenders if you decide to refinance. You can do this easily with Credible’s free online tool and see your prequalified rates in just three minutes.

Mortgage rates by type of loan

Whether you are looking for a 30- or 15-year mortgage or want to refinance, Credible can help you find the mortgage that’s right for you: