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Factors Influencing Refinance Rates

Several factors affect the refinance rates you might be offered. Your credit score plays a crucial role; a higher score can help you qualify for lower rates. The value of your home and the amount of equity you have are also important, as lenders view these as indicators of risk. Additionally, the term length of the loan you choose can impact the rate, with shorter terms typically offering lower rates. It's essential to understand these variables so you can position yourself to receive the most favorable offers.