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Check out mortgage rates for January 11, 2021, which have been on the rise since last Friday. (iStock)
According to data compiled by Credible Operations, Inc., NMLS number 1681276, mortgage rates have increased since last Friday.
- 30 Year Fixed Rate Mortgages: 2.625%, up 2.500%, + 0.125
- 20 Year Fixed Rate Mortgages: 2.625%, up 2.500%, + 0.125
- 15 Year Fixed Rate Mortgages: 2,000%, up from 1.875%, + 0.125
Rates last updated on January 11, 2021. These rates 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.
Looking at Mortgage Refinance Rates Today
Mortgage refinancing rates today have increased since last Friday. Average mortgage refinancing rates for all loan types hit 2.542%, while 30-year rates hit 2.750%, a high not seen since December 3, 2020. If you’re considering refinancing an existing home, find out at what the refinancing rates look like. :
- Refinancing at a fixed rate over 30 years: 2.750%, compared to 2.625%, +0.125
- Refinancing at a fixed rate over 20 years: 2.750%, compared to 2.625%, +0.125
- Refinancing at a fixed rate over 15 years: 2.125%, up from 2.000%, + 0.125
Rates last updated on January 11, 2021. These rates 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 mortgage refinancing loans. Credible allows you to view prequalified rates for conventional mortgages from multiple lenders within minutes. Visit Credible today to get started.
Current mortgage rates
Mortgage interest rates increased slightly overall, up slightly from last week’s average of 2.208% for all types of loans. This is the first peak in 31 consecutive days for 15-year rates, which have risen 0.125 percentage points since last Friday.
Current 30-year fixed rate mortgages
The current interest rate for a 30 year fixed rate mortgage is 2.625%. This is up from last Friday.
Current 20-year fixed rate mortgages
The current interest rate for a 20 year fixed rate mortgage is 2.625%. This is up from last Friday.
Current 15-year fixed rate mortgages
The current interest rate for a 15 year fixed rate mortgage is 2,000%. This is up from 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.
Rates last updated on January 11, 2021. These rates are based on the assumptions presented here. Actual rates may vary.
How mortgage rates have changed
Today, mortgage rates are up from the same time last week.
- 30 Year Fixed Rate Mortgages: 2.625%, up 2.500%, + 0.125
- 20 Year Fixed Rate Mortgages: 2.625%, up 2.250%, + 0.375
- 15 Year Fixed Rate Mortgages: 2,000%, up from 1.875%, + 0.125
Rates last updated on January 11, 2021. These rates 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 prequalified rates in just a few minutes.
Factors behind today’s mortgage rates
Current mortgage and refinancing rates are affected by many economic factors, such as the unemployment rate 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
- Use
- 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 rating and paying off any other debt could guarantee you a lower rate. The amount of your down payment also affects mortgage rates, with a low 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 research by Freddie Mac, borrowers can save an average of $ 1,500 over the life of their loan by purchasing one additional quote – 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 buyer looking for 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.
Don’t forget to check out these loan rates, which you can compare by annual percentage rate (APR) as well as by interest rate:
More resources on obtaining a home loan
Want to learn more about how to get a mortgage? Take a look at the following articles:
