What are today's mortgage and mortgage refinance interest rates?
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TL;DR
- Average 15-year mortgage rate: 5.86%
- Average 30-year mortgage rate: 6.49%
- Average 15-year refinance rate: 5.74%
- Average 30-year refinance rate: 6.62%
- Strong credit scores (mid- to high-700s) are crucial for the best rates.
- Key strategies include timely bill payments, error checking on credit reports, and avoiding multiple loan applications close together.
- Shopping around with different lenders and comparing loan terms and fees is essential.
- Shorter loan terms (15-year) generally offer better interest rates than longer terms (30-year).