Mortgage Rates

30-year mortgage charges dip again beneath 3% | Oct. 1, 2021


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See mortgage rates for October 1, 2021 mixed from yesterday. (iStock)

Based on data compiled by Credible, two major mortgage rates have fallen and two others have remained unchanged since yesterday.

  • 30-year fixed-rate mortgage rates: 2.990%, down from 3.000%, -0.010
  • 20-year fixed-rate mortgage rates: 2.750%, unchanged
  • 15-year fixed-rate mortgage rates: 2,250%, unchanged
  • 10-year fixed-rate mortgage rates: 2.125%, versus 2.250%, -0.125

Last updated on October 1, 2021. These prices are based on the assumptions shown here. Actual prices may vary.

What this means: The daily fluctuations in mortgage rates are normal, but this week has been particularly volatile. While rates stayed stable for 20 years during the week, 30 year rates – the most common mortgage term – rose to 3% for two days before falling today. That volatility could be a sign that the expert-predicted rising interest rates are on the way. Home buyers may run out of time to hedge one of these historically low interest rates.

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 been largely unchanged since yesterday, with the exception of 30- and 10-year rates, which have come down. If you’re considering refinancing an existing home, check out what the refinance rates look like:

  • 30-year fixed refinancing rates: 2.990%, down from 3.000%, -0.010
  • 20-year fixed refinancing rates: 2.750%, unchanged
  • 15-year fixed refinancing rates: 2,250%, unchanged
  • 10-year fixed refinancing rates: 2.125%, versus 2.250%, -0.125

Last updated on October 1, 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 rating of 4.7 stars (out of a possible 5.0) on Trustpilot and more than 4,500 reviews from customers who have safely compared prequalified tariffs.

What is a good mortgage rate?

Many factors affect the mortgage rate a lender can offer you. In general, however, a good mortgage rate is the lowest you can qualify for based on your individual factors such as credit history, income, other debt, down payment amount, and more.

An interest rate that is good for your financial situation should result in a monthly mortgage payment that you can manage while leaving plenty of room in your monthly budget for savings, investments, and an emergency fund. And a good price should be competitive with the average prices in the geographic area you plan to buy from.

After choosing the type of mortgage that’s right for you, you can compare multiple lenders to really find the best interest rates.

Current mortgage rates

The average interest rate over all maturities has dropped to 2.529% today.

Current mortgage rates over 30 years

The current interest rate for a 30-year fixed-rate mortgage is 2,990%. That’s less than yesterday. 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 2.750%. This is the same as yesterday. 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%. This is the same as yesterday. 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 yesterday. 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 various lenders offering both mortgage refinancing and home loans. Check out Credible and get prequalified today. Check out today’s refinance rates using the link below.

Thousands of Trustpilot reviewers rate Credible “excellent”.

Last updated on October 1, 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 influence mortgage interest rate developments. The 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

Today mortgage rates are mixed compared to last week.

  • 30-year fixed-rate mortgage rates: 2,990%, down from 3,000% last week, -0.010
  • 20-year fixed-rate mortgage rates: 2.750%, down from 2.625% last week, +0.125
  • 15-year fixed-rate mortgage rates: 2.250%, down from 2.125% last week, +0.125
  • 10-year fixed-rate mortgage rates: 2.125%, the same as last week

Last updated on October 1, 2021. These prices are based on the assumptions shown here. Actual prices may vary.

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

When 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 compare multiple lenders and view prequalified rates in minutes.

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

Factors That Affect Mortgage Rates (And Are Out Of Your Control)

Many factors affect the interest rate a lender can offer you. Some – like your creditworthiness – are in your control. But others that you cannot influence, such as

  • The economy – During a financial downturn, the Fed could cut rates to try to stimulate the economy. And when the economy is doing well, interest rates can go up.
  • inflation Interest rates tend to move with inflation. As the total cost of goods and services increases, interest rates are likely to increase too.
  • The Federal Reserve The Fed can cut rates to stimulate a troubled economy or raise rates to curb inflation.
  • Macro employment trends When many people are unemployed, as they were during the months of the pandemic, mortgage rates can fall. As employment rises, so do interest rates.

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 free home contents insurance offers from Credible’s partner here. It’s quick, easy, and the whole process can be completed entirely online.

Do you have a finance-related question but don’t know who to contact? Email the Credible Money Expert at 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.