Today's mortgage rates: 30-year rates tumble back to bargain low | Nov. 10, 2021

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Based on data compiled by Credible, mortgage rates have remained largely unchanged since yesterday, with the exception of 30-year fixed rates, which fell.

• 30-year fixed mortgage rates: 2.820%, down from 3.000%, -0.180
• 20-year fixed mortgage rates: 2.625%, unchanged
• 15-year fixed mortgage rates: 2.250%, unchanged
• 10-year fixed mortgage rates: 2.125%, unchanged

Rates last updated on Nov. 10, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

What this means: Homebuyers may soon have dwindling opportunities to secure a 30-year mortgage rate below 3%, as experts have predicted rates will slowly and steadily rise through the end of the year. Buyers who lock in a 30-year mortgage today could get a rate that hasn’t been lower since Sept. 23. While rates across all terms remain at bargain levels, 20-year rates may be a particularly good deal for buyers — rates for that term have mostly held at 2.750% or lower since early April.

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

• Check out mortgage refinance rates
• Compare home purchase rates

Browse 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).

Looking at today’s mortgage refinance rates

Today’s mortgage refinance rates were a mixed bag since yesterday, with 30-year mortgage refinance rates falling to a 38-day low. If you’re considering refinancing an existing home, check out what refinance rates look like:

• 30-year fixed-rate refinance: 2.820%, down from 3.000%, -0.180
• 20-year fixed-rate refinance: 2.750%, up from 2.625%, +0.125
• 15-year fixed-rate refinance: 2.250%, unchanged
• 10-year fixed-rate refinance: 2.125%, unchanged

Rates last updated on Nov. 10, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

A site like Credible can be a big help when you’re ready to compare mortgage refinance loans. Credible lets you see prequalified rates for conventional mortgages from multiple lenders all within 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 more than 4,500 reviews from customers who have safely compared prequalified rates.

How my credit score affects my rate

Many factors can affect the interest rate you receive on a mortgage. Your credit score is an important one.

A higher credit score indicates to lenders that you know how to use credit responsibly. It can boost their confidence that you’ll make your mortgage payments on time and won’t default. Applying for a mortgage with a high credit score could help you qualify for lower interest rates, and give you a wider array of loan types to choose from.

Conversely, a low credit score may make lenders think you’ll have difficulty managing your mortgage, and may miss payments or even go into foreclosure. A low credit score likely means you’ll qualify for higher interest rates, and your loan choices will be more limited.

Current mortgage rates

Today’s average mortgage interest rate across all terms is just 2.455%, the lowest the average has been since Oct. 5.

Current 30-year mortgage rates

The current interest rate for a 30-year fixed-rate mortgage is 2.820%. This is down from yesterday. Thirty years is the most common repayment term for mortgages because 30-year mortgages typically give you a lower monthly payment. But they also typically come with higher interest rates, meaning you’ll ultimately pay more in 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%. This is the same as yesterday. Shortening your repayment term by just 10 years can mean you’ll 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%. This is the same as yesterday. Fifteen-year mortgages are the second most-common mortgage term. A 15-year mortgage may help you get a lower 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 for a 10-year fixed-rate mortgage is 2.125%. This is the same as yesterday. Although less common than 30-year and 15-year mortgages, a 10-year fixed rate mortgage typically gives you 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 current rates from various lenders who offer mortgage refinancing as well as home loans. Check out Credible and get prequalified today, and take a look at today’s refinance rates through the link below.

Thousands of Trustpilot reviewers rate Credible "excellent."

Rates last updated on Nov. 10, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

How Credible mortgage rates are calculated

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

The rates assume a borrower has a 740 credit score and is borrowing a conventional loan for a single-family home that will be their primary residence. The rates also assume no (or very low) discount points and a down payment of 20%.

Credible 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 mixed compared to this time last week.

• 30-year fixed mortgage rates: 2.820%, down from 2.940% last week, -0.120
• 20-year fixed mortgage rates: 2.625%, down from 2.750% last week, -0.125
• 15-year fixed mortgage rates: 2.250%, the same as last week
• 10-year fixed mortgage rates: 2.125%, the same as last week

Rates last updated on Nov. 10, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

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

If you’re trying to find the right rate for your home mortgage or looking to refinance an existing home, consider using Credible. You can use Credible's free online tool to easily compare multiple lenders and see prequalified rates in just a few minutes.

With more than 4,500 reviews, Credible maintains an "excellent" Trustpilot score.

What’s the difference between APR and interest rate?

When you’re shopping for a mortgage or refinance loan, you’ll see the terms APR and interest rate arise often. They’re similar but not interchangeable.

The interest rate is the cost the lender will charge annually to loan you money. Annual percentage rate, or APR, encompasses the interest rate and other fees and charges attached to your loan.

Generally, APR gives you a better picture of the true cost of a loan since it takes into account all the costs associated with borrowing money. For a mortgage or refinance, those costs can include discount points, fees and other charges.

When you apply for a loan, you’ll usually be able to find the interest rate on the first page of your loan estimate, and the APR later in the document listed under "comparisons."

Looking to lower your home insurance rate?

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

Credible has a partnership with a home insurance broker. You can compare free home insurance quotes through Credible's partner here. It's fast, easy, and the whole process can be completed entirely online.

Have a finance-related question, but don't know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.