Today’s 15-year fixed mortgage refinance see a minor spike | November 19, 2020

November 21, 2020 Loans & Finance

Today’s mortgage refinance rates for 15-year fixed loans are higher than last week’s average.

Interest rates for 15-year fixed rate refinance have risen for the first time since last Friday, when they hit a low for the past 43-day period. Though rates have seen a slight uptick, they remain low by historical standards.

If you’re considering refinancing an existing home, check out what refinance rates look like:

Today’s 15-Year Fixed Refinance Rate 2.375%
Last Week’s Average Rate 2.350%
Percentage Change -4.26%
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Rates last updated on November 19, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

Here’s what else you should know about mortgage and refinance rates:

  • Compare today’s mortgage and refinance rates
  • Current 15-year fixed refinance rate
  • How 15-year fixed refinance rates have changed
  • Mortgage refinance rate factors
  • How to get the best mortgage rate
  • More mortgage interest rates

Compare Mortgage and Refinance Rates for November 19, 2020

Comparing multiple mortgage rates can potentially save you thousands of dollars over the life of your loan. Credible makes comparing rates easy. You can get free quotes in just a few minutes through Credible’s partner lenders here.

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Current 15-year fixed refinance rate

The current rate for a 15-year fixed refinance is 2.375%. This is the same as this time last week.

Rates last updated on November 19, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

How 15-year fixed refinance rates have changed

The mortgage refinance rate for 15-year fixed loans have risen since yesterday.

Date 15-Year Fixed Refi Rate
Today 2.375%
Wednesday, November 18, 2020 2.250%
Tuesday, November 17, 2020 2.250%
Monday, November 16, 2020 2.250%
Friday, November 13, 2020 2.250%
Thursday, November 12, 2020 2.375%
Get your personalized refinancing rates on Credible

Get Refinancing Rates

Rates last updated on November 19, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

Mortgage refinance rate factors

Your credit score, home location, loan amount, and loan term are among the most influential factors when it comes to what interest rate you’ll be offered on a 15-year refinance. You’ll also want to consider larger economic factors, like unemployment numbers, inflation, and market conditions before applying for a loan.

Personal economic factors

  • Credit score
  • Credit history
  • Debt-to-income ratio
  • Down payment size
  • Loan-to-value ratio
  • Loan type, size, and term
  • Location of the property

Larger economic factors

  • 10-year Treasury yields
  • Consumer spending
  • Employment
  • Federal Reserve policies
  • Housing construction and other market conditions
  • Inflation rates
  • Stock and bond markets
  • Strength of the economy

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 prequalified rates using Credible’s free online tool. Within minutes, you can see what multiple mortgage refinance lenders are offering.

Find out if refinancing is right for you

  • Actual rates from multiple lenders – In 3 minutes, get actual prequalified rates without impacting your credit score.
  • Smart technology – We streamline the questions you need to answer and automate the document upload process.
  • End-to-end experience – Complete the entire origination process from rate comparison up to closing, all on Credible.

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How to get the best mortgage rate

The rate you’re offered is based on a variety of factors, including your credit score, loan amount, the length of your home loan, and more.

If you’re looking to score the best rate possible, here are some steps you need to take:

  • Give your credit score a boost. By maximizing your credit score, you put yourself in a better position to receive the best rate.
  • Make a 20% down payment. The more you put down, the less risk you’ll pose to a lender, which can lead to a better rate. As an added bonus, you’ll avoid costly private mortgage insurance (PMI).
  • Keep your income steady — or increase it. If possible, avoid changing or quitting jobs before applying for a mortgage.
  • Consider a 15-year mortgage. If you can handle the higher monthly payments, consider taking on a 15-year mortgage instead of a 30-year loan. The shorter term means less risk for the lender, and more favorable interest rates for you.

Some first-time homebuyer programs offer low-interest loans as well, and paying with mortgage points can also qualify you for a lower rate.

Wondering how much you’d pay with a new rate? Credible’s monthly mortgage payment calculator makes it easy to gauge the costs of your mortgage. Simply enter your loan information below to see how much you’ll pay monthly and over the life of the loan.

Enter your loan information to calculate how much you could pay



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Total Payment
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Total Interest
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Monthly Payment
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With a
$
home loan, you will pay
$
monthly and a total of
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in interest over the life of your loan. You will pay a total of
$
over the life of the
mortgage.


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More mortgage interest rates

Want to explore another loan option? See more of today’s mortgage purchase and refinance rates in the table below:

Loan Product Mortgage Rates Refinance Rates
30-year 30-year mortgage rates 30-year refinance rates
15-year 15-year mortgage rates 15-year refinance rates

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