Refinance mortgage prices mixed for Monday

Refinance prices were mixed today.

The nationwide average for a 30-year fixed-rate refinance was flat, however the nationwide average on a 15-year fixed refinance was higher. The common rate on 10-calendar year fixed refis, meanwhile, advanced.

Compare refinancing prices in your area now.

30-year fixed refinance

The common 30-year fixed-refinance rate is 4.13 percent, unchanged because the same time last week. Per month ago, the common rate on a 30-calendar year set refinance was higher, at 4.22 percent.

At the existing average rate, you’ll pay $484.94 monthly in principal and interest for each $100,000 you borrow.

You may use Bankrate’s mortgage calculator to estimate your monthly premiums and find out just how much you’ll save with the addition of extra payments. It will help you calculate just how much curiosity you’ll spend over the life span of the loan.

15-year fixed refinance

The common rate for a 15-year fixed refi is 3.56 percent, up 6 basis points during the last week.

Monthly premiums on a 15-year set refinance at that rate will definitely cost around $718 per $100,000 borrowed. That’s obviously much higher than the payment will be on a 30-12 months mortgage at that rate, nonetheless it includes some big advantages: You’ll turn out thousands ahead over the life span of the loan altogether curiosity paid and build equity a lot more quickly.

10-year fixed refinance

The common rate for a 10-year fixed-refinance loan is 3.57 percent, up 7 basis points because the same time last week.

Monthly payments in a 10-year fixed-rate refi at 3.57 percent would cost $988.86 monthly for each $100,000 you borrow. That’s much more than the payment on a good 15-year refinance, however in return you’ll pay actually less in interest than you'll with a 15-yr term.

Where rates are headed
To see where Bankrate’s panel of professionals expect rates to move from here, have a look at our Rate Trend Index.

Want to see where prices are at this time? See local mortgage rates.

Average mortgage rates
Product Rate Change Last week
30-year fixed refi 4.13% N/C 4.13%
15-year fixed refi 3.56% +0.06 3.50%
10-year fixed refi 3.57% +0.07 3.50%
Last updated April 19, 2019.

Methodology: The prices you see over are Bankrate.com Site Averages. These calculations are follow the close of the prior business day you need to include rates and/or yields we've collected that time for a specific banking item. Bankrate.com site averages have a tendency to be volatile - they help customers see the movement of prices daily. The institutions contained in the “Bankrate.com Site Average” tables changes from one day to another, based on which institutions’ rates we collect on a specific day for demonstration on the site.

To find out more about the various rate averages Bankrate publishes, see “Understanding Bankrate’s Rate Averages.”

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