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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, all opinions are our own.
View mortgage refinance rates for December 3, 2020, which are mostly unchanged from yesterday – with one exception. (iStock)
Based on data compiled by Credible Operations, Inc., NMLS number 1681276, current mortgage refinance rates have remained unchanged since yesterday – except for the 15-year refinance rates, which have increased. Despite some daily fluctuations, mortgage and refinancing rates remain generally low by historical standards.
- 30-year fixed rate refinancing: 2.750%, unchanged
- 20-year fixed rate refinancing: 2.750%, unchanged
- 15-year fixed rate refinancing: 2.375%, up 2.250%, +0.125
Rates last updated on December 3, 2020. These rates are based on the assumptions presented here. Actual rates may vary.
If you are considering 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 the rates of multiple mortgage lenders. You can see the pre-qualified rates in as little as three minutes.
Current 30-year fixed rate refinancing
The current rate for a 30-year fixed-rate refinance is 2.750%. It’s the same as yesterday.
20-year fixed rate refinancing
The current rate for a 20 year fixed rate refinance is 2.750%. It’s the same as yesterday.
Refinancing at a fixed rate over 15 years
The current rate for a 15-year fixed rate refinance is 2.375%. This goes back to yesterday.
Thinking of refinancing for a shorter loan term? Take a look at where 15-year refinance rates are now compared to recent trends.
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 December 3, 2020. These rates are based on the assumptions presented here. Actual rates may vary.
How Mortgage Refinance Rates Have Changed
Mortgage refinance rates today were largely unchanged from the Wednesday before Thanksgiving, with the exception of the 15-year fixed rates.
- Fixed refinancing at 30 years: 2.750%, the same as last Wednesday
- Fixed refinancing at 20 years: 2.750%, the same as last Wednesday
- Refinancing fixed at 15 years: 2.375%, against 2.250% last Wednesday, +0.125
Do you think this might be a good 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 pre-qualified rates in just three minutes.
Rates last updated on December 3, 2020. These rates are based on the assumptions presented here. Actual rates may vary.
Factors driving current refinancing rates
Current refinancing rates, like mortgage interest rates in general, are affected by many economic factors, such as unemployment and inflation. But your personal financial history will also determine the rates you are 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
- Credit score
- Credit history
- Deposit size
- Loan to value ratio
- Type, amount and term of loan
- Debt to Income Ratio
- Property location
How To Get Your Lowest Mortgage Refinance Rate
If you want to refinance your mortgage, improve your credit score, 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 want to refinance, to find the best rate for your situation.
According to a study by Freddie Mac, borrowers can save an average of $ 1,500 over the life of their loan by purchasing one additional rate, and an average of $ 3,000 by comparing five quotes. 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 pre-qualified rates in just three minutes.
Mortgage rates by type of loan
Whether you’re buying a first-time home for a mortgage or looking for 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 can compare by Annual Percentage Rate (APR) as well as by interest rate:
More resources on mortgage refinancing
Want to know more about refinancing your home loan? Take a look at the following articles:
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