Today's mortgage rates not budging | January 6, 2021
- 30-year fixed-rate mortgages: 2.500%, Unchanging
- 20-year fixed-rate mortgages: 2.375%, Unchanging
- 15-year fixed-rate mortgages: 1.875%, Unchanging
Rates last updated on January 6, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
Looking at today’s mortgage refinance rates
Today’s mortgage refinance rates have remained largely unchanged since yesterday. Fixed mortgages for 15-year rates stuck around 2.125%, which extends its record low to 27 straight days. The average for all mortgage refinance rates is 2.458%. If you’re considering refinancing an existing home, check out what refinance rates look like:
- 30-year fixed-rate refinance: 2.625%, Unchanging
- 20-year fixed-rate refinance: 2.625%, Unchanging
- 15-year fixed-rate refinance: 2.125%, Unchanging
Rates last updated on January 6, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
Current mortgage rates
There has been little movement among rates recently, which keeps the average for all mortgage interest rate types low at 2.250%.
Current 30-year fixed-rate mortgages
The current interest rate for a 30-year fixed-rate mortgage is 2.500%. This is the same as yesterday.
Current 20-year fixed-rate mortgages
The current interest rate for a 20-year fixed-rate mortgage is 2.375%. This is the same as yesterday.
Current 15-year fixed-rate mortgages
The current interest rate for a 15-year fixed-rate mortgage is 1.875%. This is the same as yesterday.
You can explore your mortgage options in minutes by visiting Credible to compare current rates from various lenders. Check out Credible and get prequalified today.
Rates last updated on January 6, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
How mortgage rates have changed
Today, mortgage rates are unchanged compared to this time last week.
- 30-year fixed-rate mortgages: 2.500%, the same as last week
- 20-year fixed-rate mortgages: 2.375%, the same as last week
- 15-year fixed-rate mortgages: 1.875%, the same as last week
Rates last updated on January 6, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
The factors behind today’s mortgage rates
Current mortgage and refinance rates are affected by many economic factors, like unemployment numbers and inflation. But your personal financial history will also determine the rates you’re offered.
Larger economic factors
- Strength of the economy
- Inflation rates
- Employment
- Consumer spending
- Housing construction and other market conditions
- Stock and bond markets
- 10-year Treasury yields
- Federal Reserve policies
Personal economic factors
- Credit score
- Credit history
- Down payment size
- Loan-to-value ratio
- Loan type, size, and term
- Debt-to-income ratio
- Location of the property
How to get your lowest mortgage rate
If you want low mortgage rates, improving your credit score and paying down any other debt could secure you a lower rate. The size of your down payments also affects mortgage rates, with a low down payment likely to yield you a higher rate.
It’s also a good idea to compare rates from different lenders to find the best rate for your financial goals. According to research from Freddie Mac, borrowers can save $1,500 on average over the life of their loan by shopping for just one additional rate quote — and an average of $3,000 by comparing five rate quotes.
Mortgage interest rates by loan type
Be sure to check out these loan rates, which you’ll be able to compare by annual percentage rate (APR) as well as interest rate:
- 30 Year Fixed Mortgage Rates
- 20 Year Fixed Mortgage Rates
- 15 Year Fixed Mortgage Rates
- 10 Year Fixed Mortgage Rates
- 30 Year Fixed Refinance Rates
- 20 Year Fixed Mortgage Rates
- 15 Year Fixed Refinance Rates
- 10 Year Fixed Mortgage Rates
More resources on getting a home loan
Want to learn more about how to get a mortgage? Take a look at the following articles:
- How to Get a Home Loan
- Here’s What You Need to Get a Conventional Loan
- How to Find the Best Mortgage Lender