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See mortgage rates for November 9, 2020, which are down from last Friday. (iStock)
According to data compiled by Credible Operations, Inc., NMLS number 1681276, 20-year fixed mortgage rates have declined since last Friday.
- 30 Year Fixed Rate Mortgages: 2.625%, unchanged
- 20 Year Fixed Rate Mortgages: 2.500%, down from 2.625%, -0.125
- 15 Year Fixed Rate Mortgages: 2,000%, unchanged
Prices updated on November 9, 2020. These prices are based on the assumptions presented here. Actual rates may vary.
To find the best mortgage rate, start by using Credible. Credible can show you the current mortgage rates for conventional loans from several lenders and help you make an informed decision about your home loan.
A look at current mortgage refinancing rates
Current mortgage refinancing rates have remained unchanged since last Friday. Mortgage refinancing rates have remained stable since last Thursday at an average of 2.625%, over 30 years, 20 years and 15 years, tied for the lowest average in 33 consecutive days.
- 30-year fixed rate refinancing: 2.750%, unchanged
- 20-year fixed rate refinancing: 2.750%, unchanged
- Refinancing at a fixed rate over 15 years: 2.375%, unchanged
Prices updated on November 9, 2020. These prices are based on the assumptions presented here. Actual rates may vary.
A site like Credible can be of great help when you are ready to compare refinance mortgage loans. Credible allows you to view pre-qualified rates for conventional mortgages from multiple lenders within minutes. Visit Credible today to get started.
Current mortgage rates
Mortgage interest rates remain at unprecedented levels. The current 20-year fixed mortgage rate, in particular, is the lowest in 33 consecutive days.
Common 30 Year Fixed Rate Mortgages
The current interest rate for a 30 year fixed rate mortgage is 2.625%. It’s the same as last Friday.
20-year common fixed rate mortgages
The current interest rate for a 20 year fixed rate mortgage is 2,500%. This is down from last Friday.
15-year fixed rate mortgages outstanding
The current interest rate for a 15 year fixed rate mortgage is 2000%. It’s the same as last Friday.
You can explore your mortgage options in minutes by visiting Credible to compare current rates from various lenders. Discover Credible and get prequalified today.
Prices updated on November 9, 2020. These prices are based on the assumptions presented here. Actual rates may vary.
How mortgage rates have changed
Today, mortgage rates are largely lower than last week.
- 30 Year Fixed Rate Mortgages: 2.625%, same as last week
- 20-year fixed rate mortgages: 2.500%, up from 2.625% last week, -0.125
- 15-year fixed rate mortgages: 2,000%, up from 2.125% last week, -0.125
Prices updated on November 9, 2020. These prices are based on the assumptions presented here. Actual rates may vary.
If you are trying to find the right rate for your mortgage, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see pre-qualified rates within minutes.
Factors driving current mortgage rates
Current mortgage and refinancing rates are affected by many economic factors, such as unemployment and inflation. But your personal financial history will also determine the rates you are offered.
More important economic factors
- Strength of the economy
- Inflation rate
- 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
- Deposit size
- Loan to value ratio
- Type, amount and term of loan
- Debt to 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 could guarantee you a lower rate. The size of your down payments also affects mortgage rates, with a small down payment likely to earn you a higher rate.
It’s also a good idea to compare the rates of different lenders to find the best rate for your financial goals. According to a study by Freddie Mac, borrowers can save an average of $ 1,500 over the life of their loan by purchasing one additional rate – and an average of $ 3,000 by comparing five quotes.
Credible can help you compare the current rates of multiple mortgage lenders at once in just a few minutes. Use Credible’s online tools and get prequalified today.
Mortgage interest rates by type of loan
Whether you’re a first-time home buyer looking for a 30- or 15-year mortgage, or looking to refinance an existing home, Credible can help you find the mortgage that matches your financial goals.
Be sure to check out these loan rates, which you can compare by Annual Percentage Rate (APR) as well as by interest rate:
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