Today’s 30-year mortgage rates are the lowest in 16 days December 2, 2021


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Check mortgage rates for December 2, 2021, which have been trending since yesterday. (iStock)

Based on data compiled by Credible, mortgage rates fell for three periods and remain unchanged from yesterday to a mid-term.

  • 30-Year Fixed Mortgage Rates: 3.000%, down from 3.125%, -0.125
  • 20-Year Fixed Mortgage Rates: 2.750%, unchanged
  • 15 Year Fixed Mortgage Rates: 2.250%, down from 2.375%, -0.125
  • 10 Year Fixed Mortgage Rates: 2.250%, down from 2.375%, -0.125

Rates were last updated on December 2, 2021. These rates are based on the assumptions shown Here. Actual rates may vary.

What this means: With significant declines in three out of four periods today, now-functioning home buyers can secure money-saving rates even if they finance their home purchase for a longer or shorter period. Buyers looking for lower interest rates may want to act now, as real estate experts predict rates and home prices will rise in 2022. In fact, Jeff Taylor, managing director of Emphasis, says digital prices are likely to rise by 5% to 13% next year. Fox Business recently said.

These rates are based on the assumptions shown Here. Actual rates may vary.

To find the best mortgage rate, start by using credibility, which will show you current mortgage and refinancing rates:

Browse rates from multiple lenders so you can make an informed decision about your home loan.

Credible, the personal finance market, has 4,500 TrustPilot reviews (out of 5.0 possible) with an average star rating of 4.7.

Looking at today’s mortgage refinancing rates

Mortgage refinancing rates remain money-saving at all terms, with homeowners wishing to save significantly on interest, looking at a 10-year period. These short-term rates fell to their lowest level in 14 days, giving homeowners who want to pay off their mortgages faster and manage a higher monthly mortgage payment a lot of savings. If you are considering refinancing an existing home, check out what refinancing rates look like:

  • 30-year fixed rate refinancing: 3.125%, unchanged
  • 20-year fixed rate refinancing: 2.750%, unchanged
  • 15 year fixed rate refinancing: 2.375%, unchanged
  • 10 year fixed rate refinancing: 2.250%, down from 2.375%, -0.125

Rates were last updated on December 2, 2021. These rates are based on the assumptions shown Here. Actual rates may vary.

A site like Credible is a great help when you’re ready to compare mortgage refinancing loans. Reliability allows you to look at prepayment rates for traditional mortgages from multiple lenders in a few minutes. Visit Credible today To get started.

Credible has earned a 4.7 star rating (out of a possible 5.0) on TrustPilot and has received over 4,500 reviews from customers who have safely compared pre-qualification rates.

Factors Affecting Mortgage Rates (and Not Under Your Control)

Many factors influence the interest rate that a lender can give you. Some – such as your credit score – are under your control. But you don’t have the ability to affect others, for example:

  • Economy – During the recession, the Fed may lower interest rates to stimulate the economy. And when the economy is doing well, interest rates can go up.
  • Inflation Interest rates move with inflation. When the overall cost of goods and services increases, interest rates are also likely to rise.
  • Federal Reserve To stimulate a struggling economy, the Fed may choose to lower interest rates or raise rates in an attempt to break inflation.
  • Macro job trends As many people are out of work as they were in the months of the epidemic lockdown, mortgage rates may fall. As employment increases, so do interest rates.

Current mortgage rates

Today’s average mortgage interest rate has dropped to 2.563% – the lowest in 16 days.

Current 30-year mortgage rates

The current interest rate for a 30-year fixed rate mortgage is 3.000%. It’s low from you. Thirty years is a normal repayment period for mortgages because 30-year mortgages give you a lower monthly payment. But they usually come with higher interest rates, which means you will eventually pay higher interest rates over the life of the loan.

Current 20 year mortgage rates

The current interest rate for a 20-year fixed rate mortgage is 2.750%. It’s like yesterday. Reducing your repayment period to just 10 years means you get a lower interest rate – and pay less in 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 2.250%. It’s low from you. Fifteen-year mortgages are the second most common mortgage period. A 15-year mortgage can help you get a lower rate than the 30-year term – and pay lower interest over the life of the loan – while maintaining monthly payments.

Current 10-year mortgage rates

The current interest rate for a 10-year fixed rate mortgage is 2.250%. It’s low from you. Although less common than 30-year and 15-year mortgages, a 10-year fixed rate mortgage gives you lower interest rates and lifetime interest costs, but higher monthly mortgage payments.

You can explore your mortgage options in minutes by visiting Credible to compare current rates from various lenders offering mortgage refinancing and home loans. Check the Credible And get prequalified today and take a look at today’s refinance rates through the link below.

Thousands of TrustPilot reviewers rate the trustworthy as “excellent.”

Rates were last updated on December 2, 2021. These rates are based on the assumptions shown Here. Actual rates may vary.

How reliable mortgage rates are calculated

Changing economic conditions, central bank policy decisions, investor sentiment and other factors influence the movement of mortgage rates. Trustworthy average mortgage rates and mortgage refinancing rates are calculated based on information provided by partner lenders who pay a credible compensation.

Rates assume that the borrower has a credit score of 740 and is borrowing a traditional loan for a single-family home that is their primary residence. Rates also assume no (or low) discount points and a 20% down payment.

Reliable mortgage rates will only give you an idea of ​​current average rates. The rate you receive can vary based on a number of factors.

How mortgage rates have changed

Today, mortgage rates are lower compared to this time last week.

  • 30-Year Fixed Mortgage Rates: 3.000%, down from 3.250% last week, -0.250
  • 20-Year Fixed Mortgage Rates: 2.750%, down from 3.000% last week, -0.250
  • 15 Year Fixed Mortgage Rates: 2.250%, down from 2.500% last week, -0.250
  • 10 Year Fixed Mortgage Rates: 2.250%, down from 2.500% last week, -0.250

Rates were last updated on December 2, 2021. These rates are based on the assumptions shown Here. Actual rates may vary.

If you are trying to find the right rate for your home mortgage or want to refinance an existing home, consider using a reliable one. You can do Use Credible’s free online tool Easily compare multiple lenders and see prequalified rates in just a few minutes.

With over 4,500 reviews, Credible maintains the “Best” TrustPilot score.

Can I get a mortgage with bad credit?

Credit scores are a snapshot of your credit history and usually range from 300 to 850. FICO, the most widely used credit-scoring model, breaks down credit scores by:

  • Poor: 579 or less
  • Fair: 580-669
  • Good: 670-739
  • Very Good: 740-799
  • Exceptional: 800 or more

To qualify for a conventional loan – not supported by any government agency – you usually need a fair credit score of at least 620. But it is possible to qualify for FHA loans insured by the Federal Housing Administration. Poor credit score below 500.

And Veterans Administration Loans, which do not have minimum credit score requirements for veterans, active-duty service members and their spouses. USDA loans, which help low-income Americans buy in some rural areas, do not have the minimum credit score requirements.

Looking to lower your home insurance rate?

A home insurance policy can help cover structural damage and unexpected expenses you may incur during home ownership, such as vandalism or stolen personal property. Coverage can vary widely among insurers, so it’s wise to shop around and compare policy quotes.

Partnering with Credible Home Insurance Broker. You can compare for free Here are the home insurance quotes by Credible Partners. It’s fast, easy and can complete the entire process online.

Have a finance related question, but don’t know who to ask? Creditable Money Expert can be emailed to moneyexpert@credible.com and your question can be answered in our Money Expert column.

As a trusted authority on mortgages and personal financing, Chris Jennings covers topics such as mortgage loans, mortgage refinancing and more. He has been editor and editorial assistant in the field of online personal finance for four years. His work has been covered by MSN, AOL, Yahoo Finance and more.

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