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Home mortgage rates are mixed today, with one key rate down, two up, and another flat since yesterday, according to data compiled by Credible.

  • Fixed rate mortgages for 30 years: 6.375%, up from 6.625%, -0.250
  • 20-year fixed-rate mortgages: 6.125%, up from 6.000%, +0.125
  • 15-year fixed-rate mortgages: 6.250%, up from 5.990%, +0.260
  • 10-year fixed-rate mortgages: 6.250%, unchanged

Prices were last updated on November 22, 2022. These rates are based on the assumptions shown. here. Actual rates may vary. Credible, the personal finance marketplace, has over 5,000 Trustpilot reviews with an average rating of 4.7 stars (out of a possible 5.0).

What does it mean: Today’s 30-year mortgage rates have fallen by a quarter of a point, offering a small savings window for borrowers looking for a longer repayment period. Meanwhile, rates on 15- and 20-year bonds have risen, while rates on 10-year bonds have remained stable. Homebuyers looking for a longer term and lower monthly payments may want to consider 20-year rates, which are the lowest available at 6.125%.

To find great mortgage rates, start by using the secure Credible website, which can show you current mortgage rates from multiple lenders without impacting your credit score. You can also use mortgage calculator to calculate monthly mortgage payments.

According to data collected by Credible, mortgage refinancing rates Today they are mixed: one key rate is decreasing, two are increasing, and another remains unchanged since yesterday.

  • 30-year fixed-rate refinancing: 6.375%, up from 6.625%, -0.250
  • 20-year fixed-rate refinancing: 6.125%, up from 6.000%, +0.125
  • 15-year fixed-rate refinancing: 6.250%, up from 5.990%, +0.260
  • 10-year fixed-rate refinancing: 6.250%, unchanged

Prices were last updated on November 22, 2022. These rates are based on the assumptions shown. here. Actual rates may vary. With 5,000 reviews, Credible maintains an “excellent” Trustpilot score.

What does it mean: Homeowners looking to refinance for longer maturities have another opportunity to save on interest today with 30-year rates down a quarter of a point since yesterday. But homeowners looking to save as much as possible on interest can consider 20-year rates, which are the lowest available at 6.125%. Twenty-year refinancing terms offer the desired combination of low interest rate and manageable monthly payments.

How mortgage rates have changed over time

Mortgage interest rates today are well below the highest average annual rate recorded by Freddie Mac, 16.63% in 1981. 2019 – 3.94%. The average rate for 2021 was 2.96%, the lowest annual average in 30 years.

The historic drop in interest rates means that homeowners who have mortgages from 2019 and older can potentially save big on interest by refinancing at one of today’s lower interest rates. When considering refinancing or buying a mortgage, it is important to consider closing costs such as appraisal, application, processing, and attorney fees. These factors, in addition to the interest rate and loan amount, affect the cost of a mortgage loan.

Do you want to buy a house? Reliable can help you compare current rates from multiple mortgage lenders immediately in just a few minutes. Use Credible’s online tools to compare rates and pre-qualify today.

Credible has been rated “excellent” by thousands of Trustpilot reviewers.

How reliable mortgage rates are calculated

Changing economic conditions, political decisions of the central bank, investor sentiment and other factors affect the change in mortgage rates. The credible average mortgage rates and mortgage refinance rates shown in this article are calculated based on information provided by partner lenders who compensate Credible.

The rates assume that the borrower has a credit score of 740 and is taking out a regular loan for a single-family home, which will be their primary residence. Rates also include no (or very low) discounts and a 20% down payment.

Reliable mortgage rates listed here will only give you an idea of ​​current average rates. The rate you actually receive may vary depending on a number of factors.

How to get a mortgage?

When you’re ready to buy a home, you should block your mortgage options before you start looking for a home. Having your financing available can make the process smoother and give you an edge over other buyers who are not yet pre-qualified or pre-approved for a mortgage.

Here are the general steps to get a mortgage loan:

  • Get a handle on your finances and credit. Add up your total monthly expenses and subtract them from your total monthly income to find out how much you can spend on your monthly mortgage payment. Check your credit score and report to correct any errors on your report and take action if you need to improve your credit score.
  • Get pre-approved for a mortgage. While pre-approval does not guarantee that a lender will grant you a mortgage, it is a strong indication that you will be able to qualify for one when the time is right. Having a pre-approval letter can make your offer more attractive to potential sellers.
  • Comparison store. Once you’ve accepted the offer of your dream home, it’s time to compare prices from multiple mortgage lenders. Be sure to compare all mortgage costs, not just the interest rate.
  • Complete the full application. You will need to provide details of your income, savings, monthly expenses and general financial situation.

If you’re trying to find the right mortgage rate, consider using Credible. You can use the free online tool Credible to easily compare multiple lenders and see provisional rates in just a few minutes.

Have a financial question but don’t know who to contact? Write to an authoritative money expert at [email protected] and your question can be answered by Credible in our Money Expert column.

As an authority on mortgages and personal finance, Chris Jennings has covered topics such as mortgages, mortgage refinancing and more. He was an editor and assistant editor in the online personal finance space for four years. His work has been featured on MSN, AOL, Yahoo Finance, and more.