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Home / Business / Mortgage Interest Rates Today-One Interest Rate Falling Further | November 11, 2020

Mortgage Interest Rates Today-One Interest Rate Falling Further | November 11, 2020



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Looking at the mortgage rate on November 11, 2020, the rate has barely changed from yesterday-with one exception. (iStock)

According to data collected by Credible Operations, Inc., NMLS No. 1681276, mortgage interest rates have remained the same since yesterday, except for the 20-year fixed interest rate.

  • 30-year fixed-rate mortgage: 2.750%, unchanged
  • 20-year fixed-rate mortgage: 2.625%, less than 2.750%, -0.125
  • 15-year fixed-rate mortgage: 2.125%, unchanged

The rate was last updated on November 11, 2020. These rates are based on the assumptions shown here. Actual prices may vary.

To find the best mortgage interest rate, use Credible first. Credible can show you the current mortgage interest rates for regular loans from multiple lenders and help you make informed decisions about housing loans.

Look at today’s mortgage refinancing interest rate

Since yesterday, today’s mortgage refinancing rate remains unchanged. Mortgage loan refinancing rates are generally hovering at historical lows, slightly higher than last week’s average of 2.692%. If you are considering refinancing an existing house, please check the refinancing rate as follows:

  • 30-year fixed interest rate refinancing: 3.000%, unchanged
  • 20-year fixed interest rate refinancing: 2.875%, unchanged
  • 15-year fixed interest rate refinancing: 2.375%, unchanged

The rate was last updated on November 11, 2020. These rates are based on the assumptions shown here. Actual prices may vary.

When you are ready to compare mortgages, sites like Credible may be of great help to you. With Credible, you can view the pre-qualified interest rates of regular mortgages from multiple lenders within minutes. Visit Credible now and get started.

Current mortgage interest rate

By historical standards, mortgage interest rates remain generally low. For example, according to Freddie Mac, the average interest rate on a 30-year fixed mortgage was 3.70% in the same period last year, 0.95 percentage points higher than today’s interest rate.

Current 30-year fixed-rate mortgage

The current interest rate for a 30-year fixed-rate mortgage is 2.750%. This is the same as yesterday.

Current 20-year fixed-rate mortgage

The current interest rate for a 20-year fixed-rate mortgage is 2.625%. This is down from yesterday.

Current 15-year fixed-rate mortgage

The current interest rate for a 15-year fixed-rate mortgage is 2.125%. This is the same as yesterday.

You can compare the current interest rates of various lenders by visiting Credible and explore mortgage options in minutes. Check out Credible and get prequalified immediately.

The rate was last updated on November 11, 2020. These rates are based on the assumptions shown here. Actual prices may vary.

How mortgage interest rates change

Today, mortgage interest rates have hardly changed compared to this time last week, with the only exception being the decline in the 20-year fixed mortgage interest rate.

  • 30-year fixed-rate mortgage: 2.750%, same as last week
  • 20-year fixed-rate mortgage: 2.625%, lower than last week’s 2.750%-0.125
  • 15-year fixed-rate mortgage: 2.125%, same as last week

The rate was last updated on November 11, 2020. These rates are based on the assumptions shown here. Actual prices may vary.

If you want to find the right interest rate for your home mortgage, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see qualified interest rates in just a few minutes.

Factors behind mortgage interest rates today

Current mortgage and refinancing interest rates are affected by many economic factors, such as unemployment and inflation. But your personal financial history will also determine the interest rate you offer.

Greater economic factors

  • Economic strength
  • Inflation rate
  • job opportunity
  • expenditures
  • Housing construction and other market conditions
  • Stock and bond market
  • 10-year Treasury bond yield
  • Fed policy

Personal economic factors

  • Credit score
  • Credit history
  • Down payment amount
  • Loan-to-value ratio
  • Loan type, amount and duration
  • Debt-to-income ratio
  • Property location

How to get the lowest mortgage interest rate

If you want low mortgage interest rates, then raising your credit score and paying off any other debts can ensure you get a lower interest rate. The size of the down payment will also affect mortgage interest rates, and a lower down payment may bring you higher interest rates.

It is also a good idea to compare the interest rates of different lenders to find the best interest rate for your financial goals. According to Freddie Mac’s research, borrowers can save an average of $1,500 over the term of the loan by purchasing only one additional interest rate offer, and by comparing five interest rate offers, they can save an average of $3,000.

Credible can help you compare the current interest rates of multiple mortgage lenders at once in just a few minutes. Use Credible’s online tools and get prequalified immediately.

Mortgage rate by loan type

Whether you are a first-time purchaser of a 30-year or 15-year mortgage, or want to refinance an existing home, Credible can help you find a mortgage that suits your financial goals.

Make sure to check out these loan interest rates, you can compare them by annual interest rate (APR) and interest rate:


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