Today's mortgage rates — one rate dips | December 4, 2020

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Check out the mortgage rates for December 4, 2020, which are mostly unchanged from yesterday — with one exception. (iStock)

Based on data compiled by Credible Operations, Inc., NMLS Number 1681276, mortgage rates are mostly unchanged since yesterday — with the exception of 20-year fixed rates, which have dropped.

30-year fixed-rate mortgages: 2.500%, Unchanging
20-year fixed-rate mortgages: 2.375%, Down from 2.500%, -0.125
15-year fixed-rate mortgages: 2.000%, Unchanging

Rates last updated on December 4, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

To find the best mortgage rate, start by using Credible. Credible can show you current mortgage rates for conventional loans from multiple lenders and help you make an informed decision regarding your home loan.

Looking at today’s mortgage refinance rates

Today’s mortgage refinance rates have dropped since yesterday. Rates for mortgage refinance are currently the lowest seen in 58 days, averaging out to 2.458% across 30-year, 20-year, and 15-year fixed loans. If you’re considering refinancing an existing home, check out what refinance rates look like:

30-year fixed-rate refinance: 2.625%, Down from 2.750%, -0.125
20-year fixed-rate refinance: 2.625%, Down from 2.750%, -0.125
15-year fixed-rate refinance: 2.125%, Down from 2.375%, -0.250

Rates last updated on December 4, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

If you’re thinking about refinancing to a shorter loan term, check out at how today’s 15-year fixed refinance rates are looking compared to recent trends.

A site like Credible can be a big help when you’re ready to compare mortgage refinance loans. Credible lets you see prequalified rates for conventional mortgages from multiple lenders all within a few minutes. Visit Credible today to get started.

Current mortgage rates

After an uptick yesterday, mortgage interest rates today have slipped back down to the level seen on Wednesday. Rates for 15-year fixed loans, in particular, have once again dropped below 2%.

Current 30-year fixed-rate mortgages

The current interest rate for a 30-year fixed-rate mortgage is 2.500%. This is the same as yesterday.

Current 20-year fixed-rate mortgages

The current interest rate for a 20-year fixed-rate mortgage is 2.375%. This is down from yesterday.

Current 15-year fixed-rate mortgages

The current interest rate for a 15-year fixed-rate mortgage is 2.000%. This is the same as yesterday.

You can explore your mortgage options in minutes by visiting Credible to compare current rates from various lenders. Check out Credible and get prequalified today.

Rates last updated on December 4, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

How mortgage rates have changed

Today, mortgage rates are mostly down compared to the Wednesday before Thanksgiving.

30-year fixed-rate mortgages: 2.500%, down from 2.625% last Wednesday, -0.125
20-year fixed-rate mortgages: 2.375%, down from 2.500% last Wednesday, -0.125
15-year fixed-rate mortgages: 2.000%, the same as last Wednesday

Rates last updated on December 4, 2020. These rates are based on the assumptions shown here. Actual rates may vary.

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 prequalified rates in just a few minutes.

The factors behind today’s mortgage rates

Current mortgage and refinance rates are affected by many economic factors, like unemployment numbers and inflation. But your personal financial history will also determine the rates you’re offered.

Larger economic factors

Strength of the economy
Inflation rates
Employment
Consumer spending
Housing construction and other market conditions
Stock and bond markets
10-year Treasury yields
Federal Reserve policies

Personal economic factors

Credit score
Credit history
Down payment size
Loan-to-value ratio
Loan type, size, and term
Debt-to-income ratio
Location of the property

How to get your lowest mortgage rate

If you want low mortgage rates, improving your credit score and paying down any other debt could secure you a lower rate. The size of your down payments also affects mortgage rates, with a low down payment likely to yield you a higher rate.

It’s also a good idea to compare rates from different lenders to find the best rate for your financial goals. According to research from Freddie Mac, borrowers can save $1,500 on average over the life of their loan by shopping for just one additional rate quote — and an average of $3,000 by comparing five rate quotes.

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 rates by loan type

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

Be sure to check out these loan rates, which you’ll be able to compare by annual percentage rate (APR) as well as interest rate: