Mortgage Rates Today – One Rate Sinks to All-Time High November 16, 2020

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Check out mortgage rates for November 16, 2020, which are unchanged from last Friday – with one exception. (iStock)

According to data compiled by Credible Operations, Inc., NMLS number 1681276, mortgage rates have remained largely unchanged since last Friday – except for 15-year fixed mortgage rates, which fell to an all-time high.

  • 30 Year Fixed Rate Mortgages: 2.625%, unchanged
  • 20 Year Fixed Rate Mortgages: 2.500%, unchanged
  • 15 Year Fixed Rate Mortgages: 2,000%, down from 2.125%, -0.125

Prices updated on November 16, 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 mortgage.

A look at current mortgage refinancing rates

Current mortgage refinancing rates have remained unchanged since last Friday. Mortgage refinancing rates are low by historical standards, hovering well below 3%. If you are considering refinancing an existing home, find out what refinancing rates look like:

  • 30-year fixed rate refinancing: 2.750%, unchanged
  • 20-year fixed rate refinancing: 2.750%, unchanged
  • 15-year fixed rate refinancing: 2.250%, unchanged

Prices updated on November 16, 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 are now averaging 2.375% – tied to the lowest level seen in the past 40 days.

Current 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%. It’s the same as last Friday.

15-year fixed rate mortgages outstanding

The current interest rate for a 15 year fixed rate mortgage is 2,000%. This is down 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.

Prices updated on November 16, 2020. These prices are based on the assumptions presented here. Actual rates may vary.

How mortgage rates have changed

Today, mortgage rates are unchanged from this period last week.

  • 30 Year Fixed Rate Mortgages: 2.625%, the same as last week
  • 20 Year Fixed Rate Mortgages: 2.500%, the same as last week
  • 15 Year Fixed Rate Mortgages: 2,000%, the same as last week

Prices updated on November 16, 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 behind 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 a single additional rate 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 home 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.

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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