Check out the mortgage refinancing rates for January 7, 2021, which are down from yesterday. (iStock) Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, current mortgage refinance rates slid to new historic lows since yesterday. The fall in mortgage rates today represents a record low for 15-year rates since October, which sunk to 2.000%. This bests the previous low mark of 2.125% set on December 4, 2020. Continue Reading Below Rates last updated on January 7, 2021. 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. The current rate for a 30-year fixed-rate refinance is 2.500%. This is down from yesterday. The current rate for a 20-year fixed-rate refinance is 2.500%. This is down from yesterday. The current rate for a 15-year fixed-rate refinance is 2.000%. This is down from 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 January 7, 2021. These rates are based on the assumptions shown here. Actual rates may vary. Today, mortgage refinance rates have fallen compared to this time last week. The average rate across all mortgage types drops to 2.333% a new record low. Think it might be the right time to refinance? Be sure to shop around and compare rates with multiple mortgage lenders. You can do this easily with Credible and see your prequalified rates in only three minutes. Rates last updated on January 7, 2021. These rates are based on the assumptions shown here. Actual rates may vary. Current 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. If 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. Whether you’re a first-time homebuyer shopping for mortgage loans, or you’re seeking lower monthly payments on an existing home, Credible can help you find the right mortgage for your financial goals. Be sure to check out these loan rates, which you’ll be able to compare by annual percentage rate (APR) as well as interest rate: Want to learn more about refinancing your home loan? Take a look at the following articles: Source: Read Full ArticleCurrent 30-year fixed-rate refinance
Current 20-year fixed-rate refinance
Current 15-year fixed-rate refinance
How mortgage refinance rates have changed
The factors behind today’s refinance rates
Larger economic factors
Personal economic factors
How to get your lowest mortgage refinance rate
Mortgage rates by loan type
More resources on mortgage refinance