Today's mortgage refinance rates experience a minor surge | January 11, 2021

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By Chris Jennings

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Chris Jennings

Chris Jennings is an authority on mortgages and personal finance. His work has been featured by Fox Business, MSN, AOL, and Yahoo Finance.

Updated October 16, 2024, 2:42 AM EDT

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  • 30-year fixed-rate refinance: 2.750%, Up from 2.625%, +0.125
  • 20-year fixed-rate refinance: 2.750%, Up from 2.625%, +0.125
  • 15-year fixed-rate refinance: 2.125%, Up from 2.000%, +0.125

Rates last updated on January 11, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

Current 30-year fixed-rate refinance

The current rate for a 30-year fixed-rate refinance is 2.750%. This is up from last Friday.

Current 20-year fixed-rate refinance

The current rate for a 20-year fixed-rate refinance is 2.750%. This is up from last Friday.

Current 15-year fixed-rate refinance

The current rate for a 15-year fixed-rate refinance is 2.125%. This is up from last Friday.

Rates last updated on January 11, 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: 2.750%, up from 2.625% last week, +0.125
  • 20-year fixed refinance: 2.750%, up from 2.625% last week, +0.125
  • 15-year fixed refinance: 2.125%, the same as last week

Rates last updated on January 11, 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.

Mortgage rates by loan type

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:

  • When to Refinance a Mortgage: Is Now a Good Time?
  • Complete Checklist of Mortgage Refinancing Requirements
  • Just How Often You Can Refinance Your Home
Meet the contributor:
Chris Jennings
Chris Jennings

Chris Jennings is an authority on mortgages and personal finance. His work has been featured by Fox Business, MSN, AOL, and Yahoo Finance.

Fox Money

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Fox Money is a property of Credible Operations, Inc., which is majority-owned indirectly by Fox Corporation. This material may not be published, broadcast, rewritten, or redistributed. All rights reserved. Use of this website (including any and all parts and components) constitutes your acceptance of Fox's Terms of Use and Updated Privacy Policy | Your Privacy Choices.