Today's mortgage rates keep climbing | February 3, 2021

• 30-year fixed-rate mortgages: 2.625%, Up from 2.500%, +0.125
• 20-year fixed-rate mortgages: 2.500%, Unchanging
• 15-year fixed-rate mortgages: 2.375%, Unchanging

Rates last updated on February 3, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

• Check out mortgage refinance rates
• Compare home purchase rates

Browse rates from multiple lenders so you can make an informed decision about your home loan.

Looking at today’s mortgage refinance rates

Today’s mortgage refinance rates have risen since yesterday. Fixed mortgages for 15-year refinance bumped back up to 2.000%. Yet average rates remain low by historical standards with 20-year rates holding steady at 2.625% for six straight days. If you’re considering refinancing an existing home, check out what refinance rates look like:

• 30-year fixed-rate refinance: 2.750%, Unchanging
• 20-year fixed-rate refinance: 2.625%, Unchanging
• 15-year fixed-rate refinance: 2.000%, Up from 1.750%, +0.250

Rates last updated on February 3, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

Current mortgage rates

Mortgage interest rates are on their seventh straight day of surges today, with 30-year rates jumping 125 basis points since yesterday.

Current 30-year fixed-rate mortgages

The current interest rate for a 30-year fixed-rate mortgage is 2.625%. This is up from yesterday.

Current 20-year fixed-rate mortgages

The current interest rate for a 20-year fixed-rate mortgage is 2.500%. This is the same as yesterday.

Current 15-year fixed-rate mortgages

The current interest rate for a 15-year fixed-rate mortgage is 2.375%. This is the same as yesterday.

Rates last updated on February 3, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

How mortgage rates have changed

Today, mortgage rates are up compared to this time last week.

• 30-year fixed-rate mortgages: 2.625%, up from 2.500%, +0.125
• 20-year fixed-rate mortgages: 2.500%, down from 2.625% last week, -0.125
• 15-year fixed-rate mortgages: 2.375%, up from 1.750% last week, +0.625

Rates last updated on February 3, 2021. These rates are based on the assumptions shown here. Actual rates may vary.

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.

Mortgage interest rates by loan type

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:

Mortgage refinance:

• 30 Year Fixed Refinance Rates
• 20 Year Fixed Mortgage Rates
• 15 Year Fixed Refinance Rates
• 10 Year Fixed Mortgage Rates

Home purchase:

• 30 Year Fixed Mortgage Rates
• 20 Year Fixed Mortgage Rates
• 15 Year Fixed Mortgage Rates
• 10 Year Fixed Mortgage Rates

More resources on getting a home loan

Want to learn more about how to get a mortgage? Take a look at the following articles:

• How to Get Pre-Approved for a Mortgage
• How to Qualify for a Mortgage
• Mortgage Closing Costs: What They Are and How to Lower Them