Categories
Make Money From Home

Today’s 30-year mortgage rates edge up, while 3 other terms hold steady | September 2, 2022 – Fox Business

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders wh…….

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.

Check out the mortgage rates for September 2, 2022, which are largely unchanged from yesterday. (Credible)

Based on data compiled by Credible, three key mortgage refinance rates have remained unchanged and one has risen since yesterday. 

Rates last updated on September 2, 2022. These rates are based on the assumptions shown here. Actual rates may vary. With 5,000 reviews, Credible maintains an “excellent” Trustpilot score.

What this means: Rates for a 30-year refinance edged slightly up today, while rates for all other key terms held steady. Homeowners looking to refinance may want to consider locking in a 10- or 15-year rate – they’re more than half a point lower than rates for longer terms. But with 20-year rates higher than 30-year rates, buyers who want a smaller monthly payment should stick with a 30-year refinance.

Today’s mortgage rates for home purchases

Check out the mortgage rates for September 2, 2022, which are largely unchanged from yesterday. (Credible)

Based on data compiled by Credible, three key mortgage rates for home purchases have remained unchanged and one has risen since yesterday.

Rates last updated on September 2, 2022. These rates are based on the assumptions shown here. Actual rates may vary. Credible, a personal finance marketplace, has 5,000+ Trustpilot reviews with an average star rating of 4.7 (out of a possible 5.0).

What this means: With 30- and 20-year mortgage refinance rates nearing 6%, homebuyers who want to save the most on interest might look to shorter terms. Ten- and 15-year rates are more than half a point lower than rates for longer repayment terms. Shorter terms do come with higher monthly payments, but buyers who can swing those higher payments stand to save more on interest and become mortgage-free much sooner.

To find great mortgage rates, start by using Credible’s secured website, which can show you current mortgage rates from multiple lenders without affecting your credit score. You can also use Credible’s mortgage calculator to estimate your monthly mortgage payments.

How mortgage rates have changed over time

Today’s mortgage interest rates are well below the highest annual average rate recorded by Freddie Mac – 16.63% in 1981. …….

Source: https://www.foxbusiness.com/personal-finance/todays-mortgage-rates-september-2-2022

Leave a Reply

Your email address will not be published. Required fields are marked *