Putting it off could cost you

According to the giant mortgage company Freddie Mac, mortgage rates recently hit their lowest level since record-keeping began in 1971. But since then, they've been going up.

You might think you should hold off on refinancing in case rates drop to rock bottom again, but trying to "time the market" could cost you big-time. And today's rates are still incredibly affordable, compared to what borrowers were paying before the pandemic.

It’s impossible to predict how long rates will stay as low as they are now. If you wait even one day too many, you may miss out.

So don’t sleep on the chance to refinance at a low rate now while you still can.

Simply add Capital One Shopping to your browser, and shop like normal. This free tool does the work for you.

Install Capital One Shopping

Here’s how to refinance into the best rate

With rates so low it can be tempting to jump at the first offer you see, but if you want to take full advantage of the current market you need to shop around.

You should plan to compare refinancing offers from at least three different mortgage lenders before you lock in a rate.

According to one recent study, refinancers who shop around save an average of about $2,000 a year.

Comparing rates might seem like a chore, but it’s really not. Just use Credible, and you can compare rates from multiple lenders in a matter of minutes.

Paid content from Credible Operations, Inc. NMLS No. 1681276, 320 Blackwell Street, Durham, NC 27701, 4500 Mercantile Plaza, Suite 300, Office 377, Ft. Worth, TX 76137, not available in all states

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Never overpay on Amazon again

Make sure to price-check online purchases with the help of Capital One Shopping. It’s totally free to use and takes less than a minute to set up.

Last year the service saved its customers over $160 million, and with just a few clicks you can start saving, too.

Download Capital One Shopping today and stop paying more than you have to for the exact same stuff.

About the Author

Shane Murphy

Shane Murphy

Reporter

Shane is a reporter for MoneyWise. He holds a bachelor’s degree in English Language & Literature from Western University and is a graduate of the Algonquin College Scriptwriting program.

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