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Home / Business / Mortgage rates today – a rate dropped to a record low | November 6, 2020

Mortgage rates today – a rate dropped to a record low | November 6, 2020



Our goal at Credible is to give you the tools and confidence you need to improve your finances. Although we promote products from our loan partners, all of the opinions are ours.

Check mortgage rates for November 6, 2020, unchanged from yesterday – with one exception. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, mortgage rates have mostly remained stable since yesterday, except for the 15-year fixed rate, a record low.

  • 30-year fixed-rate mortgages: 2,625%, unchanged
  • 20-year fixed-rate mortgages: 2,625%, unchanged
  • 15-year fixed-rate mortgages: 2,000%, down from 2.125%, -0.125

Rates were last updated on 6 November 2020. These rates are based on the assumptions shown here. Actual rates are subject to change.

To find the best mortgage rates, start by using Credible. Credible can show you the current mortgage rates on regular loans from many lenders and help you make an informed decision about your home loan.

Look at today’s mortgage refinancing rates

The mortgage refinancing rate today has not changed since yesterday. The interest rate today, averaged over 30-year, 20-year and 15-year fixed refinances, is tied to the lowest on 30 consecutive days.

  • Fixed-rate refinancing for 30 years: 2,750%, unchanged
  • 20-year fixed-rate refinancing: 2,750%, unchanged
  • Fixed-rate refinancing for 15 years: 2.375%, No change

Rates were last updated on 6 November 2020. These rates are based on the assumptions shown here. Actual rates are subject to change.

A website like Credible can be a big help when you’re ready to compare mortgage refinancing loans. Credible allows you to see the eligibility rates for regular mortgages from multiple lenders, all within minutes. Visit Credible today to get started.

Current mortgage rate

Current mortgage rates continue to hover at historic lows. In particular, the current 15-year fixed mortgage rate is the lowest on record for 30 consecutive days.

Current fixed rate mortgages for 30 years

The current interest rate for a 30-year mortgage is 2.625%. This is the same as yesterday.

Current 20-year fixed-rate mortgages

The current fixed 20-year mortgage rate is 2.625%. This is the same as yesterday.

Current fixed rate mortgages for 15 years

The current interest rate for a 15-year mortgage is 2,000%. This has decreased compared to yesterday.

You can explore your mortgage options in minutes by visiting Credible to compare current rates from different lenders. Check out Credible and get pre-qualification today.

Rates were last updated on 6 November 2020. These rates are based on the assumptions shown here. Actual rates are subject to change.

How has mortgage rates changed

Today, mortgage rates are virtually unchanged from this time last week, except for the 15-year fixed-rate mortgage.

  • 30-year fixed-rate mortgages: 2,625%, equal to the previous week
  • 20-year fixed-rate mortgages: 2,625%, equal to the previous week
  • 15-year fixed-rate mortgages: 2,000%, down from 2.125% of the previous week, -0.125

Rates were last updated on 6 November 2020. These rates are based on the assumptions shown here. Actual rates are subject to change.

If you’re trying to find the right rate for your home mortgage, consider using Credible. You can use Credible’s free online tool to easily compare multiple lenders and see eligibility in minutes.

Factors behind today’s mortgage rates

The current mortgage and refinancing rates are affected by many economic factors, such as unemployment and inflation. But your personal financial history will also determine the rates you’re offered.

Bigger economic factors

  • The power of the economy
  • Inflation rate
  • Job
  • Spending and consuming
  • Housing construction and other market conditions
  • Stock and bond markets
  • 10-year Treasury yield
  • Federal Reserve Policy

Personal economic factors

  • Credit score
  • Credit history
  • Reduced payment size
  • Loan rate
  • Loan type, size and term
  • Debt to income ratio
  • The location of the property

How to get your lowest mortgage rate |

If you want low mortgage rates, improving your credit score and paying off any other debt can guarantee you a lower rate. The size of your prepayments also affects your mortgage rate, with a low down payment likely to give you a higher rate.

You should also compare rates from different lenders to find the best rate for your financial goals. According to research from Freddie Mac, borrowers can save an average of $ 1,500 over the life of their loan by shopping for just one additional rate quote – and an average of $ 3,000 by comparing compare year quotes exchange rate.

Credible can help you compare current rates from multiple mortgage lenders at once in just a few minutes. Use Credible’s online tools and get prequalified today.

Mortgage interest rate in the form of a loan

Whether you’re a first-time homebuyer with a 30-15-year mortgage or you’re looking to refinance an existing home, Credible can help you find the right mortgage for items spend your finances.

Remember to check these loan rates, you will be able to compare them by annual percentage (APR) as well as interest rates:


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