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View the mortgage rates for December 15, 2020, which are unchanged from yesterday. (iStock)
Based on data collected by Credible Operations, Inc., NMLS number 1681276, mortgage interest rates have remained unchanged since yesterday.
- Fixed-rate mortgages of 30 years: 2,500%, unchangeable
- Mortgages with a fixed rate of 20 years: 2.375%, unchangeable
- Mortgages with a fixed rate of 15 years: 1.875%, unchangeable
Rates last updated on December 15, 2020. These rates are based on the assumptions shown here. Actual rates may vary.
To find the best mortgage rates, start with 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 the current mortgage refinancing rates
Current mortgage refinancing rates have remained largely unchanged since yesterday, with the exception of 20-year refinancing rates, which have fallen to 2,500%. If you’re considering refinancing an existing home, see what the refinance rates look like:
- 30-year fixed rate refinancing: 2.625%, unchangeable
- Refinancing with a fixed rate of 20 years: 2,500%, down from 2.625%, -0.125
- Fixed rate refinancing over 15 years: 2.125%, unchangeable
Rates last updated on December 15, 2020. These rates are based on the assumptions shown here. Actual rates may vary.
A site like Credible can be of great help if you are ready to compare mortgage refinance loans. With Credible, you can view pre-qualified conventional mortgage rates from multiple lenders in minutes. Visit Credible today to get started.
Current mortgage interest
Mortgage rates remain at an all-time high, with a 20-year fixed rate slightly lower than the average of 2.450% last week.
Current mortgages with a fixed rate of 30 years
The current interest rate for a 30-year fixed rate mortgage is 2,500%. This is the same as yesterday.
Current mortgages with a fixed rate of 20 years
The current interest rate for a 20-year fixed-rate mortgage is 2.375%. This is a drop from yesterday.
Current mortgages with a fixed rate of 15 years
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 going to Credible to compare the current rates from different lenders. View Credible and get prequalified today.
Rates last updated on December 15, 2020. These rates are based on the assumptions shown here. Actual rates may vary.
How mortgage rates have changed
Today, mortgage rates are largely unchanged from this time last week, with the exception of 15-year mortgages, which are even lower.
- 30-year fixed-rate mortgages: 2,500%, the same as last week
- Mortgages with a fixed rate of 20 years: 2.375%, the same as last week
- Mortgages with a fixed rate of 15 years: 1.875%, compared to 2,000% last week, -0.125
Rates last updated on December 15, 2020. These rates are based on the assumptions shown here. Actual rates may vary.
If you’re 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 view pre-qualified rates in minutes.
The factors behind the current mortgage interest rate
Current mortgage and refinancing rates are affected by many economic factors, such as unemployment rates and inflation. But your personal financial history also determines the rates you are offered.
Larger economic factors
- Power of the economy
- Inflation figures
- Employment opportunities
- Consumer spending
- Residential construction and other market conditions
- Stock and bond markets
- Returns on 10-year Treasury bills
- Federal Reserve Policy
Personal economic factors
- Creditworthiness
- Credit history
- Size of the down payment
- Loan-to-value ratio
- Type of loan, size and term
- Debt to income ratio
- Location of the property
How to get your lowest mortgage interest
If you want low mortgage rates, improving your credit score and paying off other debts can get you a lower rate. The amount of your down payments also affects mortgage interest, with a low down payment likely to get 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 research from Freddie Mac, borrowers can save an average of $ 1,500 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.
With Credible you can compare the current rates of multiple mortgage lenders in just a few minutes. Use Credible’s online tools and get prequalified today.
Mortgage interest rates by type of loan
Whether you are buying homes for the first time on a 30- or 15-year mortgage, or you want to refinance an existing home, Credible can help you find the right mortgage for your financial goals.
Make sure to check out these loan rates, which you can compare based on annual percentage (APR) and interest rate:
More resources to get a home loan
Would you like to know more about how to get a mortgage? Check out the following articles: