Today's mortgage refinance rates see little change as market holds steady | February 25, 2021

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Check out the mortgage refinancing rates for February 25, 2021, which are unchanged from yesterday. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, current mortgage refinance rates did not move rates compared to yesterday’s. Today marks the ninth straight day that 30-year refinance rates have stayed at 3%. As the market calms this week, average rates for all loan types remain relatively low by historical standards holding at 2.792%.

30-year fixed-rate refinance: 3.000%, Unchanging

20-year fixed-rate refinance: 3.000%, Unchanging

15-year fixed-rate refinance: 2.375%, Unchanging

Rates last updated on February 25, 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 refinance

The current rate for a 30-year fixed-rate refinance is 3.000%. This is the same as yesterday.

Current 20-year fixed-rate refinance

The current rate for a 20-year fixed-rate refinance is 3.000%. This is the same as yesterday.

Current 15-year fixed-rate refinance

The current rate for a 15-year fixed-rate refinance is 2.375%. 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 February 25, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

How mortgage refinance rates have changed

Today, mortgage refinance rates have risen compared to this time last week.

30-year fixed refinance: 3.000%, the same as last week

20-year fixed refinance: 3.000%, up from 2.875% last week, +0.125

15-year fixed refinance: 2.375%, up from 2.250% last week, +0.125

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 February 25, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

The factors behind today’s refinance rates

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.

Larger economic factors

Strength of the economy

Inflation rates

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

Down payment size

Loan-to-value ratio

Loan type, size, and term

Debt-to-income ratio

Location of the property

How to get your lowest mortgage refinance rate

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 also has a partnership with a home insurance broker. You can compare free home insurance quotes through Credible's partner here. It's fast, easy, and the whole process can be completed entirely online.

Mortgage rates by loan type

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 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 Rates

20 Year Fixed Refinance Rates

15 Year Fixed Refinance Rates

10 Year Fixed Refinance Rates

30 Year Fixed Mortgage Rates

20 Year Fixed Mortgage Rates

15 Year Fixed Mortgage Rates

10 Year Fixed Mortgage Rates

More resources on mortgage refinance

Want to learn more about refinancing your home loan? Take a look at the following articles:

How to Refinance Your Home in 6 Easy Steps

Credit Score Needed to Refinance Your Home

How Soon Can You Refinance: Typical Waiting Periods By Home Loan