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 March 1, 2021, which are down from last Friday. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS number 1681276, current mortgage refinancing rates have declined from last Friday. Although 30-year averages remain above 3%, today’s declining mortgage and refinancing rates have pushed rates on all types of loans down to record levels. Average rates fell 250 basis points to 2.833%.

  • Refinancing at a fixed rate over 30 years: 3.125%, down 3.375%, -0.250
  • Refinancing at a fixed rate over 20 years: 3.000%, down from 3.375%, -0.275
  • Refinancing at a fixed rate over 15 years: 2.375%, down 2.500%, -0.125
  • Refinancing at a fixed rate over 10 years: 2.375%, immutable

Rates last updated on March 1, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

If you think about refinance your mortgage, consider using Credible. Whether you want to save money on your monthly mortgage payments or are considering a cash refinance, Credible’s free online tool will allow you to compare the rates of several 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 3.125%. This is down from last Friday.

Current 20-year fixed refinancing rates

The current rate for a 20 year fixed rate refinance is 3000%. This is down from last Friday.

Current fixed refinancing rates over 15 years

The current rate for a 15 year fixed rate refinance is 2.375%. This is down from last Friday.

Current fixed refinancing rates over 10 years

The current rate for a 10 year fixed rate refinance is 2.375%. It’s the same as 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.

Rates last updated on March 1, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

How Mortgage Refinance Rates Have Changed

Today, mortgage refinance rates have increased compared to the same period last week.

  • Fixed refinancing rates over 30 years: 3.125%, compared to 3.000% last week, +0.125
  • Fixed refinancing rates over 20 years: 3.000%, the same as last week
  • Fixed refinancing rates over 15 years: 2.375%, the same as last week
  • Fixed refinancing rates over 10 years: 2.375%, the same as last week

Think it might be a good time to refinance? You can explore your mortgage refinancing options in minutes by visiting Credible to compare rates and lenders. Discover Credible and get prequalified today.

Rates last updated on March 1, 2021. These rates 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
  • Use
  • 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 is also a good idea to compare the rates of different lenders if you are hoping to refinance, in order to find the best rate for your situation.

According to a study 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 it easily with Credible’s free online tool and view your prequalified rates in just three minutes.

Credible is also a partner of a home insurance broker. If you are looking for a better rate on Home Insurance and consider 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 diving into mortgage refinancing, be sure to check out these loan rates, which you can compare by annual percentage rate (APR) as well as the interest rate:


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