The most recent developments in the interest rate applicable to student loan refinancing
Rates for qualified borrowers who use the marketplace Credible to refinance student loans dropped this week for five-year variable rate loans
To borrowers having credit scores of 780 or more who have used the Credible marketplace choose a lender during the week between Aug. 15 and 2022:
Rates on 10-year fixed rate refinance loans were averaged at 5.46 percent, which is unchanged from 5.46 percentage
the week prior and an increase from 3.46 percent a year ago. The rates on this loan hit their lowest level in 2022
The rates on five-year variable rate refinance loans were on average 3.20 percent
a decrease from 3.99 percent the week prior and an increase from 2.71 percent one year ago.
The rates for this term reached their lowest level of 2022 to date in the week ending July 4th, in which they stood at 2.51
If you're wondering the kind you could get in student loan refinance rate you could be eligible for, you could make use of an online tool such as Credible