Savings window opens: Today’s 30-year mortgage rates tumble a quarter of a percentage point
Based on data compiled by Credible, mortgage rates for home purchases have fallen for three key terms and remained unchanged for one term since yesterday (mortgage rates calculated Jan 24, 2023)
Thirty-year mortgage rates fell a quarter of a percentage point today, offering a slight savings window for borrowers seeking a longer repayment term. Meanwhile, rates for 10- and 15-year terms edged down, and 20-year rates held steady
Borrowers who want to take advantage of interest savings should look to 15-year rates, which are the lowest available at 6.25%
Mortgage refinance rates have risen for two key terms and remained unchanged for two other terms since yesterday (mortgage refinance rates calculated Jan 24, 2023)
With today’s rate changes, homeowners may find 15-year refinance rates particularly appealing, as they’re the lowest available at 6.125%