Mortgage Rates Hold Steady for 30-Year Loans, Tick Up for 15-Year Loans on March 26, 2024

Mortgage rates held steady for 30-year fixed loans at 7.000% but rose to 6.125% for 15-year fixed loans on March 26, 2024. Rates change frequently so it pays to shop around.

Many factors determine mortgage rates including your credit score, debt-to-income ratio, down payment amount, and the lender you choose.

Comparing mortgage rates from multiple lenders and getting pre-approved can help ensure you get the best possible deal.

There are pros and cons to different mortgage types. Fixed rates offer predictable payments while adjustable rates may start lower.

You may be able to tap into home equity through a loan or line of credit if you need money for other financial goals after buying.