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Personal Finance
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Now’s your chance: 10-year mortgage refinance rates rest at 25-day low | July 19, 2021

Content provided by Credible, which is majority owned by Fox Corporation. Credible is solely responsible for this content and the services it provides.
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 do promote products from our partner lenders who compensate us for our services, all opinions are our own.

Check out the mortgage refinancing rates for July 19, 2021, which are mostly unchanged from last Friday. (iStock)

Based on data compiled by Credible, current mortgage refinance rates remained unchanged compared to last Friday’s, with the exception of 10-year rates, which dropped a quarter of a percentage point. 

  • 30-year fixed-rate refinance: 2.750%, unchanged
  • 20-year fixed-rate refinance: 2.750%, unchanged
  • 15-year fixed-rate refinance: 2.250%, unchanged
  • 10-year fixed-rate refinance: 2.000%, down from 2.250%, -0.250

Rates last updated on July 19, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

Breaking news: FHA ends fee, makes refinancing even cheaper

Refinancing your mortgage just got even more affordable. On Friday, July 16, the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae, Freddie Mac, and 11 Federal Home Loan Banks, said it will eliminate its Adverse Market Refinance Fee effective Aug.1, 2021. The 0.50% fee was applied last year during the pandemic to help Fannie Mae and Freddie Mac cover projected losses.

Today’s 10-year mortgage refinance rates hit an exceptional bargain of 2.000% today — the lowest rates this term has seen in 25 days. Homeowners looking to refinance into a shorter term who can swing a higher monthly payment could reap significant savings on interest with rates this low. Meanwhile, 30-year and 20-year rates have held steady for seven consecutive days, and 15-year rates have remained unchanged for the past two days.

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 refinance rates

The current rate for a 30-year fixed-rate refinance is 2.750%. This is the same as last Friday.

Current 20-year fixed refinance rates

The current rate for a 20-year fixed-rate refinance is 2.750%. This is the same as last Friday.

Current 15-year fixed refinance rates

The current rate for a 15-year fixed-rate refinance is 2.250%. This is the same as last Friday.

Current 10-year fixed refinance rates

The current rate for a 10-year fixed-rate refinance is 2.000. This is down from last Friday.

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 July 19, 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 remained largely unchanged compared to this time last week.

  • 30-year fixed refinance rates: 2.750%, unchanged from last week
  • 20-year fixed refinance rates: 2.750%, unchanged from last week
  • 15-year fixed refinance rates: 2.250%, unchanged from last week
  • 10-year fixed refinance rates: 2.000%, down from 2.125% last week, -0.125

Think 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 July 19, 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

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 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 type

If 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.

Before you dive into mortgage refinancing, be sure to check out these loan rates, which you can compare by annual percentage rate (APR), as well as interest rate:

Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.

As a Credible authority on mortgages and personal finance, Chris Jennings has covered topics that include mortgage loans, mortgage refinancing, and more. He’s been an editor and editorial assistant in the online personal finance space for four years. His work has been featured by MSN, AOL, Yahoo Finance, and more.