Mortgage Rates Fluctuate, Currently at 8.0% for 30-Year Fixed and 7.625% for 15-Year Fixed

Mortgage rates fluctuate daily. A 30-year fixed rate is currently 8.0%, down 0.5% from Friday. A 15-year fixed rate is 7.625%, up 0.875% from Friday.

Many factors affect mortgage rates, including your credit score, debt-to-income ratio, down payment amount, loan term, and overall economic conditions.

Compare rates from multiple lenders to find the best deal. Get pre-approved to see rates you may qualify for. Consider rate locks and fixed vs adjustable rates.

To qualify, have steady income/employment, good credit score and debt-to-income ratio, sufficient assets, and down payment funds. Know the property type and loan type you need.

To apply, choose a lender, get pre-approved, submit a formal application, provide requested docs, complete closing process. Refinancing follows a similar process.