Of course there are still day-to-day fluctuations in the market, but mortgage refinance rates remain at historic lows. In many cases, homeowners looking to pay off their mortgages sooner may find 10-year rates particularly appealing. Since July 19, 2021, 10-year rates have sat at 2.125% or lower. You may want to act quickly, as Fannie Mae and Freddie Mac both forecast rates are likely to rise by the end of the year.
Whether you’re interested in saving money on your monthly mortgage payments, or considering a cash-out refinance, take a look at our refinance calculator.
What about 30-year fixed rates?
The current rate for a 30-year fixed-rate refinance is sill fantastic. Refinancing a 30-year mortgage into a new 30-year mortgage will likely lower your interest rate and lower your total interest costs and monthly payments. You might also be able to take cash out for wrapping up summer projects or getting ready for holiday shopping. .
Have questions? Feel free to reach out to Scott Bennett at 503-703-4699 or firstname.lastname@example.org to talk about your current situation.