Today's mortgage refinance rates hold steady | January 21, 2021January 23, 2021Check out the mortgage refinancing rates for January 21, 2021, which are unchanged from yesterday. (iStock) Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, current mortgage refinance rates have remained largely unchanged compared to yesterday. Average mortgage refinance rates across all loan types hold firm at 2.500% for the third straight day.Continue Reading Below30-year fixed-rate refinance: 2.750%, Unchanging20-year fixed-rate refinance: 2.625%, Unchanging15-year fixed-rate refinance: 2.125%, UnchangingRates last updated on January 21, 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.Current 30-year fixed-rate refinanceThe current rate for a 30-year fixed-rate refinance is 2.750%. This is the same as yesterday.Current 20-year fixed-rate refinanceThe current rate for a 20-year fixed-rate refinance is 2.625%. This is the same as yesterday.Current 15-year fixed-rate refinanceThe current rate for a 15-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 January 21, 2021. These rates are based on the assumptions shown here. Actual rates may vary.How mortgage refinance rates have changedToday, mortgage refinance rates have remained largely unchanged compared to this time last week.30-year fixed refinance: 2.750%, the same as last week20-year fixed refinance: 2.625%, the same as last week15-year fixed refinance: 2.125%, the same as 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 January 21, 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 historyDown payment sizeLoan-to-value ratioLoan type, size, and termDebt-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 typeWhether 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 keep an eye on current mortgage rates and find the right loan 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:30 Year Fixed Refinance Rates20 Year Fixed Refinance Rates15 Year Fixed Refinance Rates10 Year Fixed Refinance Rates30 Year Fixed Mortgage Rates20 Year Fixed Mortgage Rates15 Year Fixed Mortgage Rates10 Year Fixed Mortgage RatesMore resources on mortgage refinanceWant to learn more about refinancing your home loan? Take a look at the following articles:How to Refinance Your Home in 6 Easy StepsRefinance Closing Costs: How to Lower and Avoid FeesHow Soon Can You Refinance: Typical Waiting Periods By Home LoanSource: Read Full Article