{"id":112883,"date":"2021-04-26T15:22:03","date_gmt":"2021-04-26T15:22:03","guid":{"rendered":"https:\/\/fin2me.com\/?p=112883"},"modified":"2021-04-26T15:22:03","modified_gmt":"2021-04-26T15:22:03","slug":"fixed-rate-student-loan-refinancing-rates-just-miss-tying-record-low","status":"publish","type":"post","link":"https:\/\/fin2me.com\/economy\/fixed-rate-student-loan-refinancing-rates-just-miss-tying-record-low\/","title":{"rendered":"Fixed-rate student loan refinancing rates just miss tying record low"},"content":{"rendered":"<p><source media=\"(max-width: 767px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2020\/11\/735\/414\/Credible-monthly-student-loan-refinance-iStock-1058274784.jpg?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2020\/11\/1470\/828\/Credible-monthly-student-loan-refinance-iStock-1058274784.jpg?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 768px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2020\/11\/931\/506\/Credible-monthly-student-loan-refinance-iStock-1058274784.jpg?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2020\/11\/1862\/1012\/Credible-monthly-student-loan-refinance-iStock-1058274784.jpg?ve=1&amp;tl=1 2x\"><\/picture>\n<p><span>The latest trends in interest rates for student loan refinancing from the Credible marketplace, updated weekly. <\/span><span> (<\/span><span>iStock<\/span><span>)<\/span><\/p>\n<p>Rates for well-qualified borrowers using the Credible marketplace to <u>refinance student loans<\/u> into 10-year fixed-rate loans fell just shy of record lows during the week of April 19, 2021 .<\/p>\n<p>For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender, during the week of April 19:<\/p>\n<ul>\n<li>Rates on 10-year fixed-rate loans averaged 3.72%, down from 3.77% the week before and 4.69% a year ago. The record low for 10-year fixed rate loans was 3.71%, during the week of Feb. 15, 2021.<\/li>\n<li>Rates on 5-year variable-rate loans averaged 3.28%, down slightly from 3.30% the week before and up from 3.25% a year ago. Variable-rate loans recorded a record low of 2.63% during the week of June 29, 2020.<\/li>\n<\/ul>\n<p><strong>Student loan refinancing weekly rate trends<\/strong><\/p>\n<p><source media=\"(max-width: 767px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/343\/192\/SLR-1.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/686\/384\/SLR-1.png?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 768px) and (max-width: 1023px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/672\/378\/SLR-1.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/1344\/756\/SLR-1.png?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 1024px) and (max-width: 1279px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/931\/523\/SLR-1.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/1862\/1046\/SLR-1.png?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 1280px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/720\/405\/SLR-1.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/1440\/810\/SLR-1.png?ve=1&amp;tl=1 2x\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/931\/523\/SLR-1.png?ve=1&amp;tl=1\"><\/picture>\n<p><span>\u00a0<\/span><span> (Credible)<\/span><\/p>\n<p>If you&apos;re curious about what kind of student loan refinance rates you may qualify for, <u>you can use an online tool like <\/u><u>Credible<\/u> to compare options from different private lenders. Checking your rates won&apos;t affect your credit score.<\/p>\n<p><strong>Current student loan refinancing rates by FICO score<\/strong><\/p>\n<p>To provide relief from the economic impacts of the COVID-19 pandemic, interest and payments on federal student loans have been <u>suspended through at least Sept. 30, 2021<\/u>. As long as that relief is in place, there&#x2019;s little incentive to <u>refinance federal student loans<\/u>. But many borrowers with private student loans are taking advantage of the low interest rate environment to refinance their education debt at lower rates.<\/p>\n<p>If you qualify to refinance your student loans, the interest rate you may be offered can depend on factors like your FICO score, the type of loan you&#x2019;re seeking (fixed or variable rate), and the loan repayment term.&#xA0;<\/p>\n<p><source media=\"(max-width: 767px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/343\/192\/SLR-2.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/686\/384\/SLR-2.png?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 768px) and (max-width: 1023px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/672\/378\/SLR-2.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/1344\/756\/SLR-2.png?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 1024px) and (max-width: 1279px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/931\/523\/SLR-2.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/1862\/1046\/SLR-2.png?ve=1&amp;tl=1 2x\"><source media=\"(min-width: 1280px)\" srcset=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/720\/405\/SLR-2.png?ve=1&amp;tl=1, https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/1440\/810\/SLR-2.png?ve=1&amp;tl=1 2x\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2021\/04\/931\/523\/SLR-2.png?ve=1&amp;tl=1\"><\/picture>\n<p><span>\u00a0<\/span><span> (Credible)<\/span><\/p>\n<p>The chart above shows that good credit can help you get a lower rate, and that rates tend to be higher on loans with fixed interest rates and longer repayment terms. Because each lender has its own method of evaluating borrowers, it&#x2019;s a good idea to request rates from multiple lenders so you can compare your options. A <u>student loan refinancing <\/u><u>calculator<\/u> can help you estimate how much you might save.&#xA0;<\/p>\n<p>If you want to <u>refinance with bad credit<\/u>, you may need to apply with a cosigner. Or, you can work on improving your credit before applying. Many lenders will allow children to refinance parent PLUS loans in their own name after graduation.<\/p>\n<p>You can <u>use Credible to compare rates<\/u> from multiple private lenders at once without affecting your credit score.<\/p>\n<p><strong>How rates for student loan refinancing are determined<\/strong><\/p>\n<p>The rates private lenders charge to refinance student loans depend in part on the economy and interest rate environment, but also the loan term, the type of loan (fixed- or variable-rate), the borrower&apos;s credit worthiness, and the lender&apos;s operating costs and profit margin.&#xA0;<\/p>\n<p><strong>About Credible<\/strong><\/p>\n<p>Credible is a multi-lender marketplace that empowers consumers to discover financial products that are the best fit for their unique circumstances. Credible&#x2019;s integrations with leading lenders and credit bureaus allow consumers to quickly compare accurate, personalized loan options &#x2015; without putting their personal information at risk or affecting their credit score. The Credible marketplace provides an unrivaled customer experience, as reflected by over <u>4,300 positive Trustpilot reviews<\/u> and a TrustScore of 4.7\/5.<\/p>\n<p>Source: <a href=\"https:\/\/www.foxbusiness.com\/money\/student-loan-refinance-rates-april-26-2021\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The latest trends in interest rates for student loan refinancing from the Credible marketplace, updated weekly. (iStock) Rates for well-qualified borrowers using the Credible marketplace [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fixed-rate student loan refinancing rates just miss tying record low - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/economy\/fixed-rate-student-loan-refinancing-rates-just-miss-tying-record-low\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fixed-rate student loan refinancing rates just miss tying record low - Fin2me\" \/>\n<meta property=\"og:description\" content=\"The latest trends in interest rates for student loan refinancing from the Credible marketplace, updated weekly. 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