15-Year Mortgage Rates Rise While 30-Year Loans Steady
-
Mortgage rates rose today for 15-year fixed-rate loans but remained steady for 30-year fixed-rate loans. The 15-year rate is now 6.375%, up 0.5 percentage points.
-
Many factors influence daily mortgage rate changes, including inflation, economic conditions, and consumer spending and confidence. It's wise to shop around.
-
Your personal credit score, debt-to-income ratio, down payment amount, and other factors affect the mortgage rate a lender offers you.
-
Compare mortgage rates from multiple lenders to find the best deal. Get pre-approved to discover your actual rates and qualifying loan amount.
-
Consider pros (predictable payments, tax benefits) and cons (expensive fees, long-term debt) before taking out a mortgage. Know qualifications and steps in the application process.