Today's mortgage rates mostly unchanged, but 30-year rates drop | June 18, 2021
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Chris Jennings is an authority on mortgages and personal finance. His work has been featured by Fox Business, MSN, AOL, and Yahoo Finance.
Updated October 16, 2024, 2:38 AM EDT
- 30-year fixed mortgage rates: 2.875%, down from 3.000%, -0.125
- 20-year fixed mortgage rates: 2.750%, unchanged
- 15-year fixed mortgage rates: 2.125%, unchanged
- 10-year fixed mortgage rates: 2.125%, unchanged
Rates last updated on June 18, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
What This Means: After increasing across three out of four terms yesterday, today’s mortgage rates leveled off, with only 30-year interest rates falling. Mortgage interest rates close the week at historic lows.
Browse rates from multiple lenders so you can make an informed decision about your home loan.
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Looking at today’s mortgage refinance rates
Today’s mortgage refinance rates are a mixed bag, with rates falling across two terms and holding for two others. Day-to-day fluctuations notwithstanding, mortgage refinance rates have been at historic lows throughout the year. If you’re considering refinancing an existing home, check out what refinance rates look like:
- 30-year fixed refinance rates: 2.875%, down from 3.000%, -0.125
- 20-year fixed refinance rates: 2.750%, down from 2.875%, -0.125
- 15-year fixed refinance rates: 2.125%, unchanged
- 10-year fixed refinance rates: 2.250%, unchanged
Rates last updated on June 18, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
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How to get low mortgage rates
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.
If you want to get the lowest possible monthly mortgage payment, taking the following steps can help you secure a lower rate on your home loan:
- Improving your credit score
- Paying down debt
- Making a bigger down payment
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.
Current mortgage rates
Mortgage interest rates fluctuate based on many factors, but 30-year rates are traditionally the highest. Today’s mortgage interest rates for 30-year terms dipped back below 3.000%. And 15-year rates continue to represent an exceptional bargain for homebuyers.
Current 30-year mortgage rates
The current interest rate for a 30-year fixed-rate mortgage is 2.875%. This is down from yesterday. Thirty years is the most common repayment term for mortgages because 30-year mortgages typically give you a lower monthly payment. But they also typically come with higher interest rates, meaning you’ll ultimately pay more in interest over the life of the loan.
Current 20-year mortgage rates
The current interest rate for a 20-year fixed-rate mortgage is 2.750%. This is the same as yesterday. Shortening your repayment term by just 10 years can mean you’ll get a lower interest rate — and pay less in total interest over the life of the loan.
Current 15-year mortgage rates
The current interest rate for a 15-year fixed-rate mortgage is 2.125%. This is the same as yesterday. Fifteen-year mortgages are the second most-common mortgage term. A 15-year mortgage may help you get a lower rate than a 30-year term — and pay less interest over the life of the loan — while keeping monthly payments manageable.
Current 10-year mortgage rates
The current interest rate for a 10-year fixed-rate mortgage is 2.125%. This is the same as yesterday. Although less common than 30-year and 15-year mortgages, a 10-year fixed rate mortgage typically gives you lower interest rates and lifetime interest costs, but a higher monthly mortgage payment.
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Rates last updated on June 18, 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 mortgage rates: 2.875%, up from 2.750% last week, +0.125
- 20-year fixed mortgage rates: 2.750%, up from 2.625% last week, +0.125
- 15-year fixed mortgage rates: 2.125%, up from 2.000% last week, +0.125
- 10-year fixed mortgage rates: 2.125%, up from 2.000% last week, +0.125
Rates last updated on June 18, 2021. These rates are based on the assumptions shown here. Actual rates may vary.
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The forecast for mortgage rates in 2021
Researchers at Freddie Mac expect mortgage rates to rise slightly throughout 2021, citing the Federal Reserve’s commitment to keeping interest rates low for the foreseeable future.
Fannie Mae researchers anticipate mortgage rates to trend slightly higher this year, citing an ongoing rise in the 10-year Treasury yield. Ultimately, though, Fannie Mae experts believe lenders will "absorb" some of the elevated costs as "refinance demand gradually wanes" — keeping rates at relatively stable levels.
Here are the predictions for how 30-year fixed rates will look for the rest of the year:
Freddie Mac
- Q2 (April to June): 2.9%
- Q3 (July to September): 3.0%
- Q4 (October to December): 3.0%
Fannie Mae
- Q2 (April to June): 2.8%
- Q3 (July to September): 2.9%
- Q4 (October to December): 2.9%
How accurate were their predictions?
Actual average 30-year fixed rate in Q1 (January to March): 2.877%
- Freddie Mac prediction: 2.9%
- Fannie Mae prediction: 2.7%
Looking to lower your home insurance rate?
A home insurance policy can help cover unexpected costs you may incur during home ownership, such as structural damage and destruction or stolen personal property. Coverage can vary widely among lenders, so it’s wise to shop around and compare policy quotes.
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As a Credible authority on mortgages and personal finance, Chris Jennings has covered topics that include mortgage loans, mortgage refinancing, and more. He’s been an editor and editorial assistant in the online personal finance space for four years. His work has been featured by MSN, AOL, Yahoo Finance, and more.