Today’s mortgage and refinance rates come down for shorter repayment terms | December 27, 2021

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See the new mortgage and mortgage refinancing rates for December 27, 2021, which have decreased for some maturities since last week. (iStock)

Based on data compiled by Credible, homebuyers looking to set a mortgage rate today could find lower rates than last week for 15- and 10-year terms.

  • 30-year fixed-rate mortgage rates: 3.190%, unchanged
  • 20-year fixed-rate mortgage rates: 2.875%, unchanged
  • 15-year fixed-rate mortgage rates: 2.250%, after 2.375%, -0.125
  • 10-year fixed-rate mortgage rates: 2.125%, after 2.375%, -0.250

Last updated prices on December 27, 2021. These prices are based on the assumptions shown here. Actual prices may vary.

What this means: Although shorter terms are less popular with buyers than longer terms, which result in lower monthly payments, buyers who can afford a higher mortgage payment could find special bargains today with a 15- or 10-year mortgage. Securing one of today’s low mortgage rates during this holiday week could allow buyers to secure a low rate before interest rates are projected to rise next year.

These prices are based on the assumptions shown here. Actual prices may vary.

To find the best mortgage rate, first use Credible, which can show you the latest mortgage and refinance rates:

Search the interest rates from multiple 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 star rating of 4.7 (out of a possible 5.0).

Look at today’s mortgage refinancing rates

Today’s mortgage refinancing rates have also decreased with shorter terms, while they have remained stable with 30- and 20-year terms. Homeowners who secure one of today’s low mortgage refinancing rates could cut their interest costs significantly over the life of their loan while paying off their mortgages faster. As with mortgage rates, refinancing rates are expected to continue to rise in 2022. If you’re considering refinancing an existing home loan, check out what the refinance rates look like:

  • 30-year fixed refinancing rates: 3.190%, unchanged
  • 20-year fixed refinancing rates: 2.875%, unchanged
  • 15-year fixed refinancing rates: 2.250%, after 2.375%, -0.125
  • 10-year fixed refinancing rates: 2.250%, after 2.375%, -0.125

Last updated prices on December 27, 2021. These prices are based on the assumptions shown here. Actual prices may vary.

A website like Credible can be of great help when you are ready to compare mortgage refinancing loans. Credible shows you pre-qualified interest rates for conventional mortgages from multiple lenders within minutes. Visit Credible today to get started.

Credible has received a 4.7-star rating (out of a possible 5.0) on Trustpilot and more than 4,500 reviews from customers who have safely compared prequalified tariffs.

How To Get Low Mortgage Rates

Mortgage and refinance rates are influenced by many economic factors such as unemployment and inflation. But your personal financial history will too Determine the prices that are offered to you.

If you want to get the lowest possible monthly mortgage payment, here are steps you can take to get a lower interest rate on your home loan:

It is also a good idea to compare the interest 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 just one additional rate quote – and an average of $ 3,000 by comparing five rate quotes.

Credible can help you compare the current interest rates from multiple mortgage lenders all at once in a few minutes. Would you like to refinance an existing home? Use Credible’s online tools to compare tariffs and pre-qualify today.

Current mortgage rates

The average mortgage rate for all repayment terms is only 2.610%, the lowest since December 17th.

Current mortgage rates for 30 years

The current interest rate on a 30-year fixed-rate mortgage is 3.190%. This is the same as last week. Thirty years is the most common mortgage term as 30 year mortgages typically offer a lower monthly payment. But they also tend to come with higher interest rates, which means that you will end up paying more interest over the life of the loan.

Current mortgage rates for 20 years

The current interest rate on a 20-year fixed-rate mortgage is 2.875%. This is the same as last week. Shortening your repayment period by as little as 10 years can mean you get a lower interest rate – and pay less overall interest over the life of the loan.

Current mortgage rates for 15 years

The current interest rate for a 15-year fixed-rate mortgage is 2.250%. That’s less than last week. Fifteen year mortgages are the second most common mortgage term. A 15 year mortgage can help you get a lower interest rate than a 30 year term – and pay less interest over the life of the loan – while keeping monthly payments manageable.

Current 10-year mortgage rates

The current interest rate on a 10-year fixed-rate mortgage is 2.125%. That’s less than last week. Although less common than 30- and 15-year mortgages, a 10-year fixed-rate mortgage typically offers lower interest rates and lifetime interest costs, but a higher monthly mortgage payment.

You can explore your mortgage options in minutes by visiting Credible to compare the current interest rates from different lenders offering both mortgage refinancing and home loans. Look at Credible and get prequalified today, and take a look at today’s refinance rates via the link below.

Thousands of Trustpilot reviewers rate Credible “excellent”.

Last updated prices on December 27, 2021. These prices are based on the assumptions shown here. Actual prices may vary.

This is how credible mortgage interest rates are calculated

Changing economic conditions, central bank policy decisions, investor sentiment and other factors affect mortgage interest rate developments. Credible average mortgage interest and mortgage refinancing rates are calculated based on information provided by partner lenders who pay Credible compensation.

The interest rates assume that a borrower has a credit score of 740 and is taking out a traditional loan on a single family home that will be their primary residence. The tariffs also require no (or very low) discount points and a deposit of 20%.

Credible mortgage rates only give you an idea of ​​current average rates. The price you get can vary based on a number of factors.

How mortgage rates have changed

Mortgage rates today are mixed compared to last week.

  • 30-year fixed-rate mortgage rates: 3.190%, down from 3.125% last week, +0.065
  • 20-year fixed-rate mortgage rates: 2.875%, the same as last week
  • 15-year fixed-rate mortgage rates: 2.250%, like last week
  • 10-year fixed-rate mortgage rates: 2.125%, down from 2.250% last week, -0.125

Last updated prices on December 27, 2021. These prices are based on the assumptions shown here. Actual prices may vary.

Whenever you are trying to find the right interest rate on your mortgage or refinancing an existing home, you should use Credible. You can Use Credible’s free online tool to easily compare multiple lenders and view pre-qualified rates in minutes.

With over 4,500 reviews, Credible holds an “Excellent” Trustpilot rating.

How to get your lowest mortgage refinancing rate

If you are interested in refinancing your mortgage, you can improve your credit score and pay off other debts get yourself a lower price. It is also a good idea to compare the interest rates of different lenders when planning a refinance so that you can find the best rate for your situation.

According to a study by Freddie Mac.

When you decide to refinance your mortgage, look around and compare prices from multiple mortgage lenders. You can easily do this using Credible’s free online tool and see your pre-qualified tariffs in just three minutes.

Would you like to reduce your home contents insurance?

Home insurance can help cover unexpected costs you may incur while home ownership, such as structural damage and destruction or stolen personal property. Insurance coverage can vary greatly depending on the insurer, so it is advisable to look around and compare insurance offers.

Credible has a partnership with a home insurance broker. You can compare for free Home insurance offers from Credible’s partner here. It’s quick, easy, and the whole process can be completed entirely online.

Do you have a question about finance but don’t know who to contact? Email the Credible Money Expert at [email protected] and your question could be answered by Credible in our Money Expert column.

A credible mortgage and personal finance authority, Chris Jennings has covered topics such as mortgage loans, mortgage refinancing, and more. He has been an online editor and assistant editor for personal finance for four years. His work has been featured by MSN, AOL, Yahoo Finance, and others.


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