May begins with a dip in mortgage refinance rates: fall to lowest since February | May 3, 2021

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fairly easy
Check out the mortgage refinancing rates for May 3, 2021, which are down from last Friday.
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.

Based on data compiled by Credible, current mortgage refinance rates have sunk nearly one tenth of a percentage point compared to last Friday's.

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

3.000%, Unchanging 20-year fixed-rate refinance: 2.750%, Down from 2.875%, -0.125

2.750%, Down from 2.875%, -0.125 15-year fixed-rate refinance: 2.250%, Down from 2.375%, -0.125

2.250%, Down from 2.375%, -0.125 10-year fixed-rate refinance: 2.125%, Down from 2.250%, -0.125

Rates last updated on May 3, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

Mortgage refinance rates have dropped across all loan types — except for 30-year fixed, which have held firm at 3% for 10 consecutive days. Fifteen-year rates continue to represent a steal at just 2.250%, down 250 basis points since this time last month.

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 3.000%. 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 down from last Friday.

Current 15-year fixed refinance rates

The current rate for a 15-year fixed-rate refinance is 2.250%. This is down from last Friday.

Current 10-year fixed refinance…
Chris Jennings
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