Borrowers may want to lock in their interest rate today as mortgage rates fall.
Mortgage Rates Is Falling All Across Full Terms
Credible shows data that mortgage rates for purchasing homes have fallen for all key terms. These are the rates according to Fox Business, 30-year fixed mortgage rates: 6.500%, down from 6.625%, 20-year fixed mortgage rates: 6.125%, down from 6.500%, 15-year fixed mortgage rates: 6.250%, down from 6.375%, 10-year fixed mortgage rates: 6.375%, down from 6.625%.
Recent Mortgage Rates for Home Purchases
Mortgage rates for home purchases have fallen for all key terms which allow homeowners to save on interest. Borrowers who are looking to take advantage of interest savings might want to reconsider 20-year rates, which fell more than a quarter point. 20-year mortgages offer a combination of a relatively low rate and fewer costs of monthly payments.
For you to find great mortgage rates, you may start using the secured website of Credible, without affecting your credit score. This can show you recent mortgage rates from multiple lenders. You can estimate your monthly mortgage payment by using Credible’s mortgage calculator.
Mortgage refinance rates held stable for three key terms recently, while the rates for 30-year terms edged up. Those homeowners who are looking to refinance into a longer term may want to consider 20-year rates, which are currently the lowest available at 6.125%.