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Check mortgage rates for January 4, 2021, which have been declining since last Wednesday. (iStock)
Based on data compiled by Credible Operations, Inc., NMLS number 1681276, mortgage rates have fallen since last Wednesday.
- 30-year fixed rate mortgages: 2,500%, unchanged
- 20-year fixed rate mortgages: 2.250%, down 2.375%, -0.125
- 15-year fixed rate mortgages: 1.875%, unchanged
Rates last updated on January 4, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
To find the best mortgage rate, start using Credible. Credible can show you current mortgage rates for conventional loans from multiple lenders and help you make an informed decision about your home loan.
Looking at today’s mortgage refinancing rates
Today’s mortgage refinancing rates have remained largely unchanged since last Wednesday. Mortgage refinancing rates continue to hover at historic lows, with 30-year rates remaining steady at 2.625% for 30 consecutive days and 15-year rates remaining at 2.125% for 25 consecutive days. If you are considering refinancing an existing home, check out how the refinancing rates are:
- 30-year fixed rate refinancing: 2.625%, unchanged
- 20-year fixed rate refinancing: 2.625%, unchanged
- 15-year fixed rate refinancing: 2.125%, unchanged
Rates last updated on January 4, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
A website like Credible can be of great help when you are ready to compare loans to refinance mortgages. Credible allows you to view prequalified rates for conventional mortgages from multiple lenders, all within minutes. Visit Credible today to get started.
Current mortgage rates
The new year brings a slight drop in mortgage interest rates today, with 20-year rates falling by 0.125 percentage points since last Wednesday. Meanwhile, 30- and 15-year interest rates remain stable at unprecedented lows.
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 last Wednesday.
Current 20-year fixed rate mortgages
The current interest rate for a 20-year fixed rate mortgage is 2.250%. This is below last Wednesday.
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 on Wednesday.
You can explore your mortgage options in minutes by visiting Credible to compare the current rates from various lenders. Check out Credible and be pre-qualified today.
Rates last updated on January 4, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
How mortgage rates have changed
Today, mortgage rates are low compared to last week.
- 30-year fixed rate mortgages: 2,500%, same as last week
- 20-year fixed rate mortgages: 2.250%, down from 2.375% last week, -0.125
- 15-year fixed rate mortgages: 1.875%, same as last week
Rates last updated on January 4, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
If you are trying to find the right rate for your home mortgage, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see prequalified rates in just minutes.
The factors behind today’s mortgage rates
Current mortgage and refinancing rates are affected by many economic factors, such as unemployment numbers and inflation. But your personal financial history will also determine the rates offered.
Major economic factors
- Economy strength
- Inflation rates
- Job
- Consumer spend
- 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 / income ratio
- Property location
How to get your lowest mortgage rate
If you want low mortgage rates, improving your credit score and paying off any other debt can guarantee a lower rate. The size of your initial payments also affects mortgage rates, with a low initial payment likely resulting in a higher rate.
It is also a good idea to compare rates from different lenders to find the best rate for your financial goals. According to Freddie Mac research, borrowers can save an average of $ 1,500 over the life of the loan by buying just one additional rate quote – and an average of $ 3,000 when comparing five rate quotes.
Credible can help you compare the current rates of multiple mortgage lenders at once in just minutes. Use Credible’s online tools and be pre-qualified today.
Mortgage interest rates by type of loan
Whether you are the first home buyer buying a 30 or 15 year mortgage, or looking to refinance an existing home, Credible can help you find the right mortgage for your financial goals.
Be sure to check these loan rates, which you can compare at the annual percentage rate (APR), as well as the interest rate:
More resources to get a home loan
Want to know more about how to get a mortgage? Take a look at the following articles: