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|Year||Average 15-Year Mortgage Rate|
This table shows the annual average 15-year rate fixed mortgage for each of the following years dating back to 2016. Due to historically low mortgage rates, experts recommend locking in your rate soon, because rates can’t stay this low forever.
If there is one silver lining to the Covid-19 pandemic, it’s the US Federal Reserve’s policy implementation. Recently, the Federal Reserve cut interest rates to essentially 0.00%.
If you have a mortgage, now is a great time to refinance your mortgage. Rates are at a historic low. Realistically, rates really can’t go any lower; they can only go up from here.
Simply put, if you don’t think about refinancing now, you’ll likely miss out, because rates cant stay at 0% for ever.
No! Refinancing your mortgage is totally free! We only feature companies on this page that are 100% free to refinance with.
There’s no harm to see if you qualify for a loan today.
Virtually any mortgage is eligible to be refinanced. There is also no limit on the amount of times you can refinance your mortgage. Common types of mortgages include:
When getting a mortgage loan for the first time, depending on your mortgage broker, you may have paid a small fee. However, for refinancing your mortgage, there is never any fee.
No! There is no impact to check your mortgage loan rate with any company on this page. A lot of the companies on this page also offer cash-out refinancing, where you can take out a cash loan of $1,000 to $50,000 against your home at extremely low interest rates.