Sumary of Current Mortgage Refinance Rates — July 22, 2021: Rates Continue Downward Trend:
- This is good news for borrowers looking to refinance their home loan.
- Although refinance rates are up a bit from recent record lows, there are still great opportunities to secure an affordable refinance loan.
- Check out average mortgage refinance rates for July 22, 2021 to get an idea of how much a refinance loan would cost you:Data source: The Ascent’s national mortgage interest rate tracking.
- 30-year mortgage refinance ratesThe average 30-year mortgage refinance loan rate today is 3.087%, down 0.028% from yesterday’s average of 3.115%.
- At today’s average rate, the monthly principal and interest payment would add up to $426 per $100,000 in refinanced mortgage debt.
- Over the life of the refinance loan, you’d pay total interest costs of $53,472 per $100,000 borrowed.
- 20-year mortgage refinance ratesThe average 20-year mortgage refinance loan rate today is 2.852%, down 0.027% from yesterday’s average of 2.879%.
- If you refinance at today’s average rate, you’d have a monthly principal and interest payment of $547 per $100,000 borrowed.