Today’s 15-Year Mortgage Rates Stay Below 2.2% for 14th Day in a Row

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Mortgage Rates Today Slightly Up, But Still Below March Averages


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View mortgage rates for May 27, 2021, which are up from yesterday. (iStock)

Based on data compiled by Credible, mortgage rates have remained unchanged since yesterday – with the exception of 10-year fixed rates, which edged up.

  • 30-year fixed mortgage rates: 2.750%, unchanged
  • 20-year fixed mortgage rates: 2.625%, unchanged
  • Fixed mortgage rates over 15 years: 2.125%, unchanged
  • 10-year fixed mortgage rates: 2,000%, up from 1,875%, +0,125

Rates last updated on May 27, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

What does that mean: Mortgage rates continue to float at historically low levels as we close May. Twenty-year fixed rates saw the biggest drop on a week-over-week basis, with rates falling to 2.625% from 2.750%. Meanwhile, rates on 15-year fixed loans have remained at their lowest for more than two weeks.

To find the best mortgage rate, start by using Credible, which can show you current mortgage and refinance rates:

Browse the rates of several lenders so you can make an informed decision about your home loan.

Credible, a personal finance marketplace, has 4,500 Trustpilot reviews with an average rating of 4.7 stars (out of a possible 5.0).

A look at current mortgage refinancing rates

Today’s average mortgage refinance rate remains unchanged and continues to hold historically low levels as we head into the end of May. Currently, the average rate stands at 2.375%, down significantly from 2.625% this time last month. Rates on 30-year fixed loans have also fallen by 250 basis points since the start of May, when rates hovered around 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: 2.625%, unchanged
  • Refinancing at a fixed rate over 15 years: 2.125%, unchanged
  • 10-year fixed rate refinancing: 2,000%, unchanged

Rates last updated on May 27, 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 pre-qualified rates for conventional mortgages from multiple lenders within minutes. Visit Credible today to begin.

Credible has earned a 4.7 star rating (out of a possible 5.0) on Trustpilot and over 4,500 customer reviews who have safely compared prequalified rates.

How to get low mortgage rates

Mortgage and refinancing rates are affected by many economic factors, such as unemployment and inflation. But your personal financial history will also be determine the rates offered to you.

If you want to get the lowest possible monthly mortgage payment, taking the following steps can help you get a lower rate on your home loan:

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 rate quote – and an average of $ 3,000 by comparing five quotes.

Credible can help you compare the current rates of several mortgage lenders at a time in minutes. Are you looking to refinance an existing home? Use Credible’s online tools to compare rates and get prequalified today.

Current mortgage rates

The average mortgage interest rate is down slightly from last week to just 2.375%.

Current 30-year mortgage rates

The current interest rate for a 30 year fixed rate mortgage is 2.750%. It’s the same as yesterday. Thirty years is the most common mortgage repayment term because 30-year mortgages typically give you a lower monthly payment. But they usually come with higher interest rates, which means you’ll end up paying more interest over the life of the loan.

Current 20-year mortgage rates

The current interest rate for a 20 year fixed rate mortgage is 2.625%. It’s the same as yesterday. Shortening your repayment term by just 10 years can mean you’ll get a lower interest rate and pay less total interest over the life of the loan.

Current 15-year mortgage rates

The current interest rate for a 15 year fixed rate mortgage is 2.125%. It’s the same as yesterday. The second most common mortgage term is 15-year mortgages. A 15-year mortgage can help you get a lower rate than a 30-year term – and pay less interest over the life of the loan – while keeping your monthly payments manageable.

Current 10-year mortgage rates

The current interest rate for a 10 year fixed rate mortgage is 2,000%. This goes back to yesterday. While less common than 30-year and 15-year mortgages, a 10-year fixed rate mortgage typically gives you lower interest rates and lifetime interest charges, but a higher monthly mortgage payment.

You can explore your mortgage options in minutes by visiting Credible to compare the current rates of various lenders who offer mortgage refinancing as well as home loans. Check Credible and get prequalified today, and take a look at current refinance rates via the link below.

Thousands of Trustpilot reviews rate Credible “excellent”.

Rates last updated on May 27, 2021. These rates are based on the assumptions presented here. Actual rates may vary.

How mortgage rates have changed

Today, mortgage rates are down compared to the same time last week.

  • 30-year fixed mortgage rates: 2.750%, the same as last week
  • 20-year fixed mortgage rates: 2.625%, compared to 2.750% last week, -0.125
  • Fixed mortgage rates over 15 years: 2.125%, the same as last week
  • 10-year fixed mortgage rates: 2,000%, the same as last week

Rates last updated on May 27, 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 or are looking to refinance an existing home, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see pre-qualified rates in minutes.

With over 4,500 reviews, Credible maintains an “excellent” Trustpilot score.

Mortgage rate forecast in 2021

Researchers at Freddie Mac expect mortgage rates to rise slightly throughout 2021, citing the Federal Reserve’s commitment to keep interest rates low for the foreseeable future.

Fannie There is researchers predict that mortgage rates will trend up slightly this year, citing a continued rise in the yield on 10-year treasury bills. Ultimately, however, experts at Fannie Mae believe lenders will “absorb” some of the high costs as “demand for refinancing gradually declines” – keeping rates relatively stable.

Here is the forecast for what the 30-year fixed rates will look like for the rest of the year:

Freddie Mac

  • Q2 (April to June): 2.9%
  • Q3 (July to September): 3.0%
  • Q4 (October to December): 3.0%

Fannie Mae

  • Q2 (April to June): 2.8%
  • Q3 (July to September): 2.9%
  • Q4 (October to December): 2.9%

How accurate were their predictions?

Real average fixed rate over 30 years in Q1 (January to March): 2.877%

  • Freddie Mac Prediction: 2.9%
  • Fannie Mae Prediction: 2.7%

Looking to lower your home insurance rate?

A home insurance policy can help cover unforeseen costs you might incur when first buying a home, such as structural damage and the destruction or theft of personal property. Coverage can vary widely from lender to lender, so it’s wise to shop around and compare policy quotes.

Credible has partnered with a home insurance broker. If you are looking for a better rate on Home Insurance and consider switching providers, consider using an online broker. You can compare quotes from top rated insurance companies in your area – it’s quick, easy, and the whole process can be done entirely online.

Have a financial question, but don’t know who to ask? Email the Credible Money Expert at [email protected] and your question can be answered by Credible in our Money Expert section.

As a credible authority on mortgages and personal finance, Chris Jennings has covered topics such as mortgages, mortgage refinancing, and more. He has been a writer and editorial assistant in the online personal finance field for four years. His work has been featured by MSN, AOL, Yahoo Finance, etc.

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